Zacks Research Upgrades Hess Midstream Partners (NYSE:HESM) to Hold

Hess Midstream Partners (NYSE:HESM) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also commented on HESM. Wall Street Zen lowered Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Finally, Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Trading Up 0.2%

HESM stock opened at $39.55 on Monday. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $44.14. The business has a 50 day simple moving average of $35.71 and a two-hundred day simple moving average of $35.58. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 13.83 and a beta of 0.60.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The company had revenue of $374.50 million for the quarter, compared to the consensus estimate of $419.16 million. During the same period in the previous year, the firm posted $0.68 EPS. Hess Midstream Partners’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HESM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners in the 4th quarter worth about $44,000. Invesco Ltd. raised its position in Hess Midstream Partners by 10.7% in the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock worth $228,385,000 after purchasing an additional 641,092 shares during the period. Alberta Investment Management Corp purchased a new stake in Hess Midstream Partners in the 4th quarter worth about $4,814,000. Alpine Woods Capital Investors LLC bought a new stake in Hess Midstream Partners in the fourth quarter worth about $3,081,000. Finally, NewEdge Advisors LLC boosted its position in shares of Hess Midstream Partners by 7,341.3% during the fourth quarter. NewEdge Advisors LLC now owns 5,953 shares of the company’s stock valued at $205,000 after buying an additional 5,873 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.