Hess Midstream Partners' (HESM) Neutral Rating Reiterated at 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.

Hess Midstream Partners (NYSE:HESM - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at UBS Group in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $43.00 price target on the stock, down from their previous price target of $45.00. UBS Group's price target would suggest a potential upside of 5.78% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. 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. Wells Fargo & Company increased their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley began coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Hess Midstream Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.67.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $40.65 on Wednesday. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 15.06 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 50-day simple moving average is $40.48 and its 200 day simple moving average is $39.53. 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 released its earnings results on Wednesday, July 30th. The company reported $0.74 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 firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same period last year, the firm earned $0.59 EPS. The business's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John A. Gatling sold 62,457 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Hess Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in HESM. Alps Advisors Inc. raised its holdings in shares of Hess Midstream Partners by 31.1% in the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company's stock valued at $231,915,000 after purchasing an additional 2,020,430 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after purchasing an additional 1,118,245 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Hess Midstream Partners by 92.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company's stock valued at $80,739,000 after purchasing an additional 1,006,998 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its holdings in shares of Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company's stock valued at $94,497,000 after purchasing an additional 857,669 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

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.

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