Hess Midstream Partners (NYSE:HESM) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Hess Midstream Partners LP (NYSE:HESM) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $39.15 and traded as low as $39.10. Hess Midstream Partners shares last traded at $39.17, with a volume of 1,082,273 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on HESM. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $37.67.

Hess Midstream Partners Stock Up 0.1%

The company has a market cap of $8.07 billion, a P/E ratio of 13.49 and a beta of 0.52. The stock has a 50-day moving average of $39.17 and a 200 day moving average of $38.71. 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 issued its 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 return on equity of 92.18% and a net margin of 23.23%.The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were issued a $0.7888 dividend. The ex-dividend date was Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.1%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in 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 during the period. Kestra Private Wealth Services LLC grew its position in Hess Midstream Partners by 1.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after acquiring an additional 330 shares in the last quarter. Investment Management Corp VA ADV raised its holdings in shares of Hess Midstream Partners by 3.0% during the 4th quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock valued at $432,000 after buying an additional 362 shares in the last quarter. Palo Duro Investment Partners LP lifted its holdings in shares of Hess Midstream Partners by 3.6% in the 2nd quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock worth $388,000 after acquiring an additional 363 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Hess Midstream Partners by 0.8% during the fourth quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock valued at $1,550,000 after buying an additional 378 shares during the period. 98.97% of the stock is owned by institutional investors.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.