Hess Midstream Partners LP (NYSE:HESM) Stock Has Average Price Target of $34.00

Shares of Hess Midstream Partners LP (NYSE:HESM) have been assigned an average recommendation of “Reduce” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $34.00.

Several equities research analysts have recently issued reports on the company. Raymond James Financial raised Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Friday, October 23rd. UBS Group cut their price objective on Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. JPMorgan Chase & Co. downgraded Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 target price for the company. in a research note on Friday, October 2nd. Barclays set a $32.00 price objective on Hess Midstream Partners in a research report on Friday, October 23rd. Finally, Weiss Ratings cut shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Hess Midstream Partners by 67.5% during the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after purchasing an additional 1,512,007 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Hess Midstream Partners by 1.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,586,630 shares of the company’s stock worth $59,292,000 after acquiring an additional 28,499 shares in the last quarter. Lazard Asset Management LLC grew its position in Hess Midstream Partners by 1,110.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after acquiring an additional 980,929 shares during the last quarter. First Trust Advisors LP grew its position in Hess Midstream Partners by 34.9% during the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after acquiring an additional 247,973 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Hess Midstream Partners by 38.7% during the 2nd quarter. Bank of America Corp DE now owns 446,037 shares of the company’s stock valued at $16,771,000 after purchasing an additional 124,507 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Down 0.0%

Shares of Hess Midstream Partners stock opened at $32.70 on Monday. Hess Midstream Partners has a 12-month low of $29.52 and a 12-month high of $41.44. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The stock has a 50 day moving average price of $36.52 and a two-hundred day moving average price of $37.94. The stock has a market capitalization of $6.74 billion, a P/E ratio of 11.20 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Friday, October 30th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $410.10 million for the quarter, compared to the consensus estimate of $404.67 million. Hess Midstream Partners had a net margin of 23.49% and a return on equity of 94.12%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Equities analysts expect that Hess Midstream Partners will post 3.29 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.7985 per share. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 dividend on an annualized basis and a yield of 9.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 109.25%.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.