Hess Midstream Partners LP (NYSE:HESM) Stock Has Average Price Target of $34.00

Key Points

• Analysts are broadly cautious on Hess Midstream Partners: nine brokerages give the stock an average “Reduce” rating, with three sells, four holds and two buys. The average 12-month price target is $34.00 versus a recent price of $30.61.
• Recent broker actions included downgrades and target-price cuts from JPMorgan, UBS and Citigroup, while Barclays set a $32 target.
• Hess Midstream exceeded quarterly earnings expectations, reporting $0.75 EPS versus a $0.67 consensus and $399 million in revenue. However, revenue declined 3.7% year over year, and institutional investors own nearly 99% of the stock.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) has been given an average recommendation of "Reduce" by the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $34.00.

HESM has been the topic of a number of recent research reports. UBS Group lowered their target price on Hess Midstream Partners from $37.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. downgraded Hess Midstream Partners from a "neutral" rating to an "underweight" rating and set a $39.00 price target for the company. in a research note on Friday, October 2nd. Barclays set a $32.00 price target on Hess Midstream Partners in a research note on Friday. Weiss Ratings lowered Hess Midstream Partners from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Citigroup lowered their price objective on Hess Midstream Partners from $37.00 to $33.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th.

Institutional Investors Weigh In On Hess Midstream Partners

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Hess Midstream Partners by 67.5% during the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company's stock worth $145,840,000 after acquiring an additional 1,512,007 shares during the period. Lazard Asset Management LLC boosted its holdings in Hess Midstream Partners by 1,110.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company's stock valued at $41,562,000 after purchasing an additional 980,929 shares during the period. First Trust Advisors LP boosted its holdings in Hess Midstream Partners by 34.9% in the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company's stock valued at $37,289,000 after purchasing an additional 247,973 shares during the period. Bank of America Corp DE grew its position in shares of Hess Midstream Partners by 38.7% during the 2nd quarter. Bank of America Corp DE now owns 446,037 shares of the company's stock worth $16,771,000 after purchasing an additional 124,507 shares in the last quarter. Finally, Algert Global LLC grew its position in shares of Hess Midstream Partners by 362.1% during the 2nd quarter. Algert Global LLC now owns 377,010 shares of the company's stock worth $14,176,000 after purchasing an additional 295,432 shares in the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Up 0.0%

Hess Midstream Partners stock opened at $30.61 on Monday. The stock has a market cap of $6.31 billion, a P/E ratio of 10.56 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. Hess Midstream Partners has a twelve month low of $29.52 and a twelve month high of $41.44. The company's 50-day moving average price is $37.31 and its two-hundred day moving average price is $38.34.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. During the same period last year, the business posted $0.74 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, analysts expect that Hess Midstream Partners will post 3.29 EPS for the current year.

About Hess Midstream Partners

Hess Midstream Partners LP NYSE: HESM is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.

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