Zacks Investment Research upgraded shares of Hess Midstream Partners (NYSE:HESM) from a hold rating to a buy rating in a research note published on Saturday, Zacks.com reports. Zacks Investment Research currently has $18.00 target price on the stock.
According to Zacks, “Hess Midstream Partners LP is a master limited partnership company. It own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The company’s operating segments consists of gathering; processing and storage and terminaling and export. Hess Midstream Partners LP is based in Houston, United States. “
A number of other research analysts have also recently issued reports on the stock. Citigroup dropped their target price on shares of Hess Midstream Partners from $27.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, April 28th. TheStreet cut shares of Hess Midstream Partners from a b rating to an e+ rating in a research note on Thursday, March 5th. Wells Fargo & Co raised their price objective on shares of Hess Midstream Partners from $19.00 to $21.00 and gave the stock an overweight rating in a research note on Tuesday, April 14th. ValuEngine raised shares of Hess Midstream Partners from a sell rating to a hold rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised shares of Hess Midstream Partners from a neutral rating to an overweight rating and set a $28.00 price objective for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $21.43.
Shares of NYSE:HESM opened at $16.63 on Friday. The company has a market cap of $882.72 million, a P/E ratio of 13.30 and a beta of 2.75. Hess Midstream Partners has a 52 week low of $5.70 and a 52 week high of $25.66. The company has a 50-day moving average price of $13.05 and a 200 day moving average price of $18.84.
Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). The firm had revenue of $290.80 million during the quarter. Hess Midstream Partners had a net margin of 6.41% and a return on equity of 2.06%. As a group, analysts predict that Hess Midstream Partners will post 1.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 4th will be paid a $0.431 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 10.37%. The ex-dividend date is Friday, May 1st. Hess Midstream Partners’s payout ratio is presently 143.33%.
In other news, CEO John B. Hess bought 25,000 shares of the stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $19.56 per share, with a total value of $489,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. J. Letwin bought 10,000 shares of the stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $6.98 per share, with a total value of $69,800.00. Following the completion of the purchase, the director now directly owns 15,747 shares in the company, valued at approximately $109,914.06. The disclosure for this purchase can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Penbrook Management LLC boosted its holdings in shares of Hess Midstream Partners by 3.2% in the 1st quarter. Penbrook Management LLC now owns 25,230 shares of the company’s stock valued at $256,000 after purchasing an additional 780 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Hess Midstream Partners by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 81,661 shares of the company’s stock valued at $1,852,000 after purchasing an additional 2,102 shares during the last quarter. Brookfield Public Securities Group LLC acquired a new position in shares of Hess Midstream Partners in the 4th quarter valued at $56,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Hess Midstream Partners by 3.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,300 shares of the company’s stock valued at $2,638,000 after purchasing an additional 3,400 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Hess Midstream Partners by 1.3% in the 4th quarter. UBS Group AG now owns 463,842 shares of the company’s stock valued at $10,520,000 after purchasing an additional 5,908 shares during the last quarter. Institutional investors own 21.82% of the company’s stock.
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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