Hess Midstream Partners LP (NYSE:HESM) Given Average Rating of “Reduce” by Brokerages

Hess Midstream Partners LP (NYSE:HESM) has been given a consensus recommendation of “Reduce” by the nine brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $38.8571.

HESM has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its stake in shares of Hess Midstream Partners by 3.4% in the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after purchasing an additional 1,007,846 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Hess Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after purchasing an additional 330,802 shares during the last quarter. Invesco Ltd. grew its stake in shares of Hess Midstream Partners by 10.7% in the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after buying an additional 641,092 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Hess Midstream Partners by 67.5% in the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after acquiring an additional 1,512,007 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Hess Midstream Partners during the fourth quarter worth about $92,288,000. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $40.54 on Wednesday. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.36 billion, a P/E ratio of 13.98 and a beta of 0.52. The firm has a 50 day simple moving average of $38.99 and a 200 day simple moving average of $38.49. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $42.22.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Sell-side analysts predict that Hess Midstream Partners will post 2.9 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 7.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 108.62%.

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.