Brokerages Set Hess Midstream Partners LP (NYSE:HESM) PT at $42.00

Shares of Hess Midstream Partners LP (NYSE:HESM) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $42.00.

Several research analysts have recently commented on HESM shares. JPMorgan Chase & Co. lifted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on Hess Midstream Partners in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 target price for the company. Morgan Stanley started coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price for the company. Finally, Zacks Research lowered Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a research report on Monday.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the business’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 transaction of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in Hess Midstream Partners during the 2nd quarter valued at approximately $50,000. Farther Finance Advisors LLC boosted its position in Hess Midstream Partners by 124.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock valued at $91,000 after purchasing an additional 1,310 shares during the period. Fractal Investments LLC boosted its position in Hess Midstream Partners by 23.8% during the 2nd quarter. Fractal Investments LLC now owns 291,247 shares of the company’s stock valued at $11,216,000 after purchasing an additional 56,000 shares during the period. Teacher Retirement System of Texas acquired a new position in Hess Midstream Partners during the 1st quarter valued at approximately $707,000. Finally, Maryland State Retirement & Pension System boosted its position in Hess Midstream Partners by 21.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 118,778 shares of the company’s stock valued at $4,574,000 after purchasing an additional 21,176 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 1.5%

NYSE:HESM opened at $33.76 on Thursday. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 12.50 and a beta of 0.58. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14. The stock has a 50-day simple moving average of $37.36 and a 200 day simple moving average of $38.16.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same quarter last year, the business posted $0.59 EPS. Hess Midstream Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s payout ratio is 109.26%.

About Hess Midstream Partners

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.