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

Hess Midstream Partners (NYSE:HESM) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $39.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.62% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $37.00.

Hess Midstream Partners Stock Up 1.7%

Hess Midstream Partners stock opened at $38.01 on Friday. The company has a market capitalization of $7.84 billion, a PE ratio of 13.11 and a beta of 0.58. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $41.44. The firm’s fifty day moving average is $39.75 and its 200 day moving average is $39.10. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $399.00 million during 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%.The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, sell-side analysts predict that Hess Midstream Partners will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after purchasing an additional 1,007,846 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after buying an additional 330,802 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the last quarter. TD Asset Management Inc boosted its stake in Hess Midstream Partners by 10.0% in the fourth quarter. TD Asset Management Inc now owns 2,626,438 shares of the company’s stock worth $90,612,000 after buying an additional 237,690 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Hess Midstream Partners by 12.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,500,598 shares of the company’s stock valued at $86,271,000 after acquiring an additional 269,216 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

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.