Hess Midstream Partners (NYSE:HESM) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

Hess Midstream Partners (NYSE:HESM) had its price target trimmed by Wells Fargo & Company from $40.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts also recently weighed in on the company. Barclays set a $32.00 price target on Hess Midstream Partners in a research note on Friday, October 23rd. UBS Group reduced their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley lowered their target price on shares of Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Raymond James Financial upgraded shares of Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Friday, October 23rd. Finally, Weiss Ratings cut shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $33.25.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $31.76 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The business’s 50-day simple moving average is $36.11 and its two-hundred day simple moving average is $37.90. The stock has a market cap of $6.55 billion, a PE ratio of 10.88 and a beta of 0.68. Hess Midstream Partners has a 52 week low of $29.52 and a 52 week high of $41.44.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Friday, October 30th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Hess Midstream Partners had a return on equity of 94.12% and a net margin of 23.49%. The firm had revenue of $410.10 million during the quarter, compared to analyst estimates of $404.67 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, analysts forecast that Hess Midstream Partners will post 3.30 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Thursday, November 5th will be paid a dividend of $0.7985 per share. The ex-dividend date of this dividend is Thursday, November 5th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 dividend on an annualized basis and a yield of 10.1%. Hess Midstream Partners’s dividend payout ratio is currently 108.22%.

Hedge Funds Weigh In On Hess Midstream Partners

Several institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Hess Midstream Partners by 4.0% during the third quarter. Alps Advisors Inc. now owns 30,427,712 shares of the company’s stock valued at $1,137,084,000 after purchasing an additional 1,173,638 shares in the last quarter. Arrow Investment Advisors LLC grew its stake in shares of Hess Midstream Partners by 16.3% in the 3rd quarter. Arrow Investment Advisors LLC now owns 6,506 shares of the company’s stock worth $243,000 after buying an additional 912 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of Hess Midstream Partners by 7.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 8,974 shares of the company’s stock worth $335,000 after buying an additional 640 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Hess Midstream Partners by 265.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 24,356 shares of the company’s stock worth $910,000 after buying an additional 17,697 shares during the last quarter. Finally, Compass Financial Management LLC increased its holdings in shares of Hess Midstream Partners by 149.4% in the 3rd quarter. Compass Financial Management LLC now owns 868 shares of the company’s stock worth $32,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.