Hess Midstream Partners (NYSE:HESM) Reaches New 1-Year Low – Here’s What Happened

Shares of Hess Midstream Partners LP (NYSE:HESM) hit a new 52-week low on Thursday. The stock traded as low as $29.83 and last traded at $29.68, with a volume of 489,707 shares traded. The stock had previously closed at $31.07.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HESM. Citigroup dropped their price target on Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. UBS Group decreased their price objective on Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Monday, September 21st. JPMorgan Chase & Co. lowered shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price objective for the company. in a research note on Friday, October 2nd. Finally, Morgan Stanley dropped their target price on shares of Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $34.71.

Hess Midstream Partners Price Performance

The firm has a market capitalization of $6.19 billion, a P/E ratio of 10.35 and a beta of 0.58. The stock’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $38.46. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. During the same period last year, the business earned $0.74 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Hess Midstream Partners LP will post 3.22 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company 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. The ex-dividend date was Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 10.5%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 108.97%.

Institutional Investors Weigh In On Hess Midstream Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Hess Midstream Partners by 113.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,658 shares of the company’s stock worth $99,000 after acquiring an additional 1,415 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Hess Midstream Partners by 564.2% during the third quarter. IFP Advisors Inc now owns 2,557 shares of the company’s stock valued at $96,000 after acquiring an additional 2,172 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Hess Midstream Partners by 115.0% during the third quarter. Farther Finance Advisors LLC now owns 14,016 shares of the company’s stock valued at $524,000 after acquiring an additional 7,497 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Hess Midstream Partners by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 147,778 shares of the company’s stock valued at $5,556,000 after acquiring an additional 1,203 shares in the last quarter. Finally, State Street Corp raised its position in shares of Hess Midstream Partners by 38.0% in the 2nd quarter. State Street Corp now owns 365,577 shares of the company’s stock valued at $13,746,000 after purchasing an additional 100,611 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

About Hess Midstream Partners

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.