Hess Midstream Partners (NYSE:HESM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Hess Midstream Partners (NYSE:HESM) had its price objective raised by stock analysts at Wells Fargo & Company from $39.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.02% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Raymond James Financial lowered Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Hess Midstream Partners presently has an average rating of “Hold” and an average target price of $40.71.

Hess Midstream Partners Stock Performance

HESM traded up $0.29 during trading on Friday, hitting $39.21. 162,246 shares of the company traded hands, compared to its average volume of 1,483,059. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14. The stock’s fifty day moving average is $36.35 and its 200 day moving average is $35.56. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.54. The firm has a market cap of $8.14 billion, a P/E ratio of 13.72 and a beta of 0.60.

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

Institutional Investors Weigh In On Hess Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Advocates LLC purchased a new stake in shares of Hess Midstream Partners during the third quarter worth $28,000. Marquette Asset Management LLC purchased a new position in shares of Hess Midstream Partners in the third quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners during the 4th quarter valued at $44,000. IFP Advisors Inc raised its stake in shares of Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares in the last quarter. 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.