Zacks Research Upgrades Hess Midstream Partners (NYSE:HESM) to “Hold”

Hess Midstream Partners (NYSE:HESM) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Citigroup cut their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. UBS Group restated a “neutral” rating and set a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley started coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Hold” and an average target price of $40.57.

Hess Midstream Partners Stock Down 1.0%

Shares of Hess Midstream Partners stock opened at $32.04 on Tuesday. The company has a market capitalization of $6.65 billion, a PE ratio of 11.36 and a beta of 0.62. The business has a 50-day moving average of $34.36 and a 200-day moving average of $37.69. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. As a group, equities analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Institutional Trading of Hess Midstream Partners

A number of institutional investors and hedge funds have recently made changes to their positions in HESM. Kesler Norman & Wride LLC boosted its position in Hess Midstream Partners by 0.9% during the second quarter. Kesler Norman & Wride LLC now owns 26,507 shares of the company’s stock worth $1,021,000 after purchasing an additional 241 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of Hess Midstream Partners by 7.6% in the second quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock valued at $172,000 after buying an additional 315 shares during the period. Farther Finance Advisors LLC increased its position in shares of Hess Midstream Partners by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after purchasing an additional 333 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in Hess Midstream Partners by 34.9% in the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

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.