Hess Midstream Partners (NYSE:HESM) Earns Neutral Rating from UBS Group

Key Points

• UBS Group has reiterated a neutral rating on Hess Midstream Partners (HESM) with a revised price target of $43.00, down from $45.00, suggesting a potential upside of 5.78% from the previous close.
• JPMorgan Chase, Wells Fargo, and Wall Street Zen have also recently updated their price targets, with ratings ranging from buy to neutral, indicating mixed sentiment from analysts about the stock's future performance.
• Hess Midstream reported a 13.3% increase in revenue year-over-year, with earnings per share reaching $0.74, exceeding analyst estimates of $0.56.

UBS Group restated their neutral rating on shares of Hess Midstream Partners (NYSE:HESM - Free Report) in a report issued on Wednesday, Marketbeat reports. They currently have a $43.00 price target on the stock, down from their previous price target of $45.00.

Other research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley started 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 target price 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. Finally, Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $45.17.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock traded up $0.17 during mid-day trading on Wednesday, reaching $39.46. The company's stock had a trading volume of 327,575 shares, compared to its average volume of 1,329,337. Hess Midstream Partners has a 12-month low of $33.59 and a 12-month high of $44.14. The company has a market capitalization of $8.29 billion, a P/E ratio of 14.62 and a beta of 0.68. 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 firm's fifty day moving average price is $40.55 and its two-hundred day moving average price is $39.50.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. During the same period in the previous year, the business earned $0.59 EPS. Hess Midstream Partners's revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is presently 109.26%.

Insider Activity at Hess Midstream Partners

In other 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 transaction of $2,597,586.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Hess Midstream Partners

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