Hess Midstream Partners (NYSE:HESM) Hits New 12-Month Low – Should You Sell?

Hess Midstream Partners LP (NYSE:HESM)’s stock price hit a new 52-week low on Tuesday. The stock traded as low as $31.46 and last traded at $31.1340, with a volume of 222,391 shares changing hands. The stock had previously closed at $32.37.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a report on Friday, October 2nd. Morgan Stanley reissued an “underweight” rating on shares of Hess Midstream Partners in a report on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Monday, September 21st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $35.20.

Hess Midstream Partners Stock Down 3.4%

The stock’s 50-day moving average is $39.03 and its 200-day moving average is $38.88. The stock has a market cap of $6.45 billion, a P/E ratio of 10.77 and a beta of 0.58. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The firm had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. During the same quarter last year, the company earned $0.74 EPS. Hess Midstream Partners’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.95 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were paid a dividend of $0.7888 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.7792. This represents a $3.16 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is 108.97%.

Hedge Funds Weigh In On Hess Midstream Partners

A number of hedge funds have recently modified their holdings of HESM. Grove Bank & Trust acquired a new stake in Hess Midstream Partners during the 2nd quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hess Midstream Partners during the 4th quarter valued at $44,000. Integrated Wealth Concepts LLC acquired a new position in shares of Hess Midstream Partners in the second quarter worth $77,000. CENTRAL TRUST Co increased its stake in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Hess Midstream Partners in the first quarter worth $133,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.