Analysts Set Hess Midstream Partners LP (HESM) Target Price at $28.80
Hess Midstream Partners LP (NASDAQ:HESM) has received a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.80.
HESM has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Hess Midstream Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $26.00 in a research note on Wednesday. Scotiabank set a $31.00 price objective on Hess Midstream Partners and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Zacks Investment Research upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, July 18th. Citigroup Inc. upgraded Hess Midstream Partners from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $28.00 to $25.00 in a research note on Friday, August 11th. Finally, BidaskClub upgraded Hess Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday.
Shares of Hess Midstream Partners (NASDAQ HESM) traded up 0.57% during midday trading on Tuesday, reaching $21.18. The company’s stock had a trading volume of 26,872 shares. The stock’s 50-day moving average is $20.44 and its 200 day moving average is $22.08. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78. The stock has a market capitalization of $1.16 billion and a P/E ratio of 8.85.
Hess Midstream Partners (NASDAQ:HESM) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $138.30 million during the quarter, compared to analyst estimates of $111.37 million. On average, analysts expect that Hess Midstream Partners will post $0.89 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were paid a dividend of $0.2703 per share. The ex-dividend date was Wednesday, August 2nd.
A number of institutional investors have recently modified their holdings of the stock. Spirit of America Management Corp NY purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $3,111,000. Russell Investments Group Ltd. purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $7,013,000. Acadian Asset Management LLC purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $119,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $735,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $2,536,000.
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About Hess Midstream Partners
Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).
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