Morgan Stanley Increases Hess Midstream Partners (HESM) Price Target to $25.00
Hess Midstream Partners (NYSE:HESM) had its price objective increased by Morgan Stanley from $24.00 to $25.00 in a report issued on Friday morning. They currently have an overweight rating on the stock.
Separately, Zacks Investment Research lowered shares of Hess Midstream Partners from a buy rating to a hold rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $26.75.
Shares of Hess Midstream Partners stock opened at $23.90 on Friday. Hess Midstream Partners has a 52-week low of $18.32 and a 52-week high of $24.51. The stock has a market cap of $625.25 million, a PE ratio of 19.93, a PEG ratio of 1.40 and a beta of 1.99.
The business also recently announced a quarterly dividend, which was paid on Monday, August 13th. Shareholders of record on Thursday, August 2nd were given a dividend of $0.345 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.33. This represents a $1.38 annualized dividend and a yield of 5.77%. The ex-dividend date was Wednesday, August 1st.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its position in Hess Midstream Partners by 129.6% during the second quarter. Advisors Asset Management Inc. now owns 36,598 shares of the company’s stock worth $576,000 after buying an additional 20,658 shares during the period. Tower Research Capital LLC TRC acquired a new position in Hess Midstream Partners during the second quarter worth about $244,000. Franklin Square Holdings L.P. grew its position in Hess Midstream Partners by 24.3% during the second quarter. Franklin Square Holdings L.P. now owns 35,675 shares of the company’s stock worth $703,000 after buying an additional 6,985 shares during the period. Renaissance Technologies LLC grew its position in Hess Midstream Partners by 28.2% during the second quarter. Renaissance Technologies LLC now owns 176,700 shares of the company’s stock worth $3,481,000 after buying an additional 38,900 shares during the period. Finally, BlackRock Inc. grew its position in Hess Midstream Partners by 116,337.5% during the second quarter. BlackRock Inc. now owns 18,630 shares of the company’s stock worth $367,000 after buying an additional 18,614 shares during the period. Institutional investors own 53.78% of the company’s stock.
About Hess Midstream Partners
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide services to Hess and third-party customers in the United States. It operates through three segments: Gathering, Processing and Storage, and Terminaling and Export. The gathering segment include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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