Hess Midstream Partners (NYSE:HESM) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hess Midstream Partners (NYSE:HESM) from a hold rating to a buy rating in a report released on Saturday morning.

HESM has been the subject of several other research reports. Zacks Research raised shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. UBS Group reissued a “neutral” rating and issued a $43.00 target price (down previously from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Saturday, September 27th. Citigroup dropped their price objective on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.00.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $33.30 on Friday. Hess Midstream Partners has a 52 week low of $33.28 and a 52 week high of $44.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The firm’s 50-day simple moving average is $39.57 and its 200 day simple moving average is $38.87. The firm has a market capitalization of $6.99 billion, a PE ratio of 12.33 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.737 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a yield of 8.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 109.26%.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kesler Norman & Wride LLC boosted its stake in shares of Hess Midstream Partners by 0.9% during the 2nd quarter. Kesler Norman & Wride LLC now owns 26,507 shares of the company’s stock valued at $1,021,000 after buying an additional 241 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares in the last quarter. Virtus Investment Advisers LLC raised its position in shares of Hess Midstream Partners by 7.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock valued at $172,000 after acquiring an additional 315 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after acquiring an additional 400 shares in the last quarter. Finally, Leisure Capital Management raised its position in shares of Hess Midstream Partners by 2.0% during the 1st quarter. Leisure Capital Management now owns 26,681 shares of the company’s stock valued at $1,128,000 after acquiring an additional 533 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based 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 owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.