Citigroup Issues Pessimistic Forecast for Hess Midstream Partners (NYSE:HESM) Stock Price

Key Points

• Citigroup has **reduced its price target** for Hess Midstream Partners (HESM) stock from **$41.00 to $37.00**, indicating a **neutral rating** with a potential upside of **5.13%** from the stock's previous close.
• Multiple analysts have recently varied their ratings, with Wells Fargo downgrading to "reduce" while JPMorgan raised its target from **$44.00 to $46.00**, maintaining a **neutral rating**.
• Hess Midstream Partners reported a strong quarter with an **EPS of $0.74**, surpassing expectations, and year-over-year revenue growth of **13.3%**.

Hess Midstream Partners (NYSE:HESM - Get Free Report) had its price objective decreased by stock analysts at Citigroup from $41.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 5.13% from the stock's previous close.

Several other equities analysts have also issued reports on HESM. Wells Fargo & Company lowered Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a report on Friday. UBS Group reaffirmed a "neutral" rating and issued a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley assumed coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Hess Midstream Partners has a consensus rating of "Hold" and an average price target of $43.00.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $35.20 on Tuesday. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $40.53 and a two-hundred day moving average price of $39.39. The firm has a market capitalization of $7.39 billion, a P/E ratio of 13.04 and a beta of 0.68. Hess Midstream Partners has a 52 week low of $33.59 and a 52 week high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Equities analysts forecast that Hess Midstream Partners will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Hess Midstream Partners

Several large investors have recently modified their holdings of HESM. ProShare Advisors LLC grew its stake in shares of Hess Midstream Partners by 5.7% in the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after purchasing an additional 429 shares during the last quarter. California State Teachers Retirement System boosted its position in Hess Midstream Partners by 12.3% during the 4th quarter. California State Teachers Retirement System now owns 89,624 shares of the company's stock valued at $3,319,000 after acquiring an additional 9,808 shares in the last quarter. GAMMA Investing LLC boosted its position in Hess Midstream Partners by 4,809.7% during the 1st quarter. GAMMA Investing LLC now owns 11,587 shares of the company's stock valued at $4,900,000 after acquiring an additional 11,351 shares in the last quarter. NBC Securities Inc. boosted its position in Hess Midstream Partners by 107,126.9% during the 1st quarter. NBC Securities Inc. now owns 27,879 shares of the company's stock valued at $1,179,000 after acquiring an additional 27,853 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its position in Hess Midstream Partners by 866.7% during the 1st quarter. Chickasaw Capital Management LLC now owns 87,000 shares of the company's stock valued at $3,679,000 after acquiring an additional 78,000 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.