Citigroup Reiterates Neutral Rating for Hess Midstream Partners (NYSE:HESM)

Key Points

• Citigroup has reaffirmed its "neutral" rating on Hess Midstream Partners with a revised price target of $41.00, indicating a potential upside of 3.64% from the stock's previous close.
• Several brokerages have varied opinions on the stock; while Wall Street Zen upgraded it to "buy," Citigroup, UBS, and JPMorgan maintain "neutral" ratings with price targets between $41.00 and $48.00.
• Hess Midstream Partners reported better-than-expected quarterly earnings with $0.74 EPS, exceeding the consensus estimate of $0.56, alongside a revenue increase of 13.3% year-over-year.

Hess Midstream Partners (NYSE:HESM - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Citigroup in a research report issued on Thursday,Benzinga reports. They presently have a $41.00 price objective on the stock, down from their prior price objective of $42.00. Citigroup's price target would indicate a potential upside of 3.64% from the stock's previous close.

Several other brokerages have also recently issued reports on HESM. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. UBS Group reaffirmed a "neutral" rating and set a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.17.

Hess Midstream Partners Stock Down 2.8%

Shares of NYSE HESM opened at $39.56 on Thursday. Hess Midstream Partners has a 52-week low of $33.59 and a 52-week high of $44.14. The firm has a fifty day moving average of $40.50 and a 200-day moving average of $39.53. The stock has a market capitalization of $8.31 billion, a PE ratio of 14.65 and a beta of 0.68. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same period in the previous year, the company earned $0.59 EPS. The business's quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Hess Midstream Partners

Several large investors have recently modified their holdings of HESM. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hess Midstream Partners during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Hess Midstream Partners during the first quarter worth about $31,000. Farther Finance Advisors LLC raised its stake in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after acquiring an additional 941 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Hess Midstream Partners during the second quarter worth about $50,000. Finally, FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners during the first quarter worth about $58,000. Institutional investors 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.

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