Wall Street analysts expect Hess Midstream Partners LP (NYSE:HESM) to report sales of $180.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Hess Midstream Partners’ earnings. The highest sales estimate is $182.90 million and the lowest is $177.10 million. Hess Midstream Partners reported sales of $164.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The firm is expected to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that Hess Midstream Partners will report full year sales of $759.95 million for the current fiscal year, with estimates ranging from $744.40 million to $775.50 million. For the next year, analysts anticipate that the firm will report sales of $874.65 million, with estimates ranging from $827.40 million to $921.90 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Hess Midstream Partners.
Hess Midstream Partners (NYSE:HESM) last released its earnings results on Thursday, April 25th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Hess Midstream Partners had a return on equity of 2.62% and a net margin of 10.43%. The business had revenue of $174.20 million for the quarter, compared to analyst estimates of $172.85 million.
A number of research firms have commented on HESM. Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Hess Midstream Partners in a report on Thursday, April 25th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $24.00 target price (down previously from $27.00) on shares of Hess Midstream Partners in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut shares of Hess Midstream Partners from an “overweight” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.33.
HESM opened at $20.27 on Thursday. Hess Midstream Partners has a 52 week low of $16.17 and a 52 week high of $24.51. The firm has a market cap of $554.02 million, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.60.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, May 3rd were given a dividend of $0.3833 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 7.56%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, May 2nd. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 120.47%.
In other news, CFO Jonathan C. Stein sold 1,381 shares of Hess Midstream Partners stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.63, for a total transaction of $31,252.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,714 shares of company stock worth $60,318.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Duff & Phelps Investment Management Co. boosted its position in shares of Hess Midstream Partners by 0.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 223,061 shares of the company’s stock worth $3,788,000 after purchasing an additional 1,200 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Hess Midstream Partners during the fourth quarter worth $36,000. Chiron Investment Management LLC boosted its position in shares of Hess Midstream Partners by 27.3% during the fourth quarter. Chiron Investment Management LLC now owns 11,177 shares of the company’s stock worth $190,000 after purchasing an additional 2,400 shares in the last quarter. Tortoise Index Solutions LLC lifted its position in Hess Midstream Partners by 113.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 5,417 shares of the company’s stock valued at $92,000 after acquiring an additional 2,885 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in Hess Midstream Partners by 29.7% in the 1st quarter. Virtu Financial LLC now owns 13,978 shares of the company’s stock valued at $296,000 after acquiring an additional 3,202 shares in the last quarter. 48.78% of the stock is currently owned by institutional investors.
Hess Midstream Partners Company Profile
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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