Hess Midstream Partners (NYSE:HESM) Cut to “Underweight” at JPMorgan Chase & Co.

Hess Midstream Partners (NYSE:HESM) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday, MarketBeat reports. They presently have a $39.00 target price on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 18.99% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $37.00.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock traded down $5.92 on Friday, hitting $32.78. The company’s stock had a trading volume of 6,421,587 shares, compared to its average volume of 1,565,325. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $41.44. The firm has a fifty day moving average price of $39.64 and a 200-day moving average price of $39.08. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 11.33 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.Hess Midstream Partners’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, sell-side analysts anticipate that Hess Midstream Partners will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of Hess Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in Hess Midstream Partners in the second quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners during the 4th quarter valued at approximately $44,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Hess Midstream Partners during the 2nd quarter valued at approximately $77,000. CENTRAL TRUST Co lifted its position in shares of Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares during the period. Finally, Fifth Third Bancorp acquired a new position in shares of Hess Midstream Partners during the 1st quarter worth approximately $133,000. 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 fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.