Hess Midstream Partners LP (NYSE:HESM) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Hess Midstream Partners LP has received an average rating of "Hold" from analysts, with one sell, four hold, and one buy recommendation, and an average price target of $43.67.
• COO John A. Gatling sold over 62,000 shares at an average price of $41.59, totaling approximately $2.6 million.
• The company increased its quarterly dividend to $0.737 per share, marking an annualized dividend yield of 8.3%, with a dividend payout ratio of 109.26%.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) has been assigned an average recommendation of "Hold" from the six analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $43.00.

A number of analysts have recently commented on the company. Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup cut their target price on Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday. Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. JPMorgan Chase & Co. raised their price objective 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. Finally, Wells Fargo & Company cut shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research note on Friday.

Insider Transactions at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the firm'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 filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Hess Midstream Partners

A number of large investors have recently made changes to their positions in HESM. Osaic Holdings Inc. lifted its position in Hess Midstream Partners by 17.6% during the second quarter. Osaic Holdings Inc. now owns 115,939 shares of the company's stock valued at $4,465,000 after buying an additional 17,314 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Hess Midstream Partners by 362.1% during the 2nd quarter. Squarepoint Ops LLC now owns 28,334 shares of the company's stock worth $1,091,000 after buying an additional 22,202 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after purchasing an additional 300 shares during the period. Westwood Holdings Group Inc. boosted its position in Hess Midstream Partners by 92.4% during the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company's stock worth $80,739,000 after purchasing an additional 1,006,998 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in shares of Hess Midstream Partners in the second quarter valued at $4,159,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

NYSE HESM traded down $0.25 during trading hours on Friday, hitting $34.90. The company had a trading volume of 1,119,659 shares, compared to its average volume of 1,364,470. The business has a fifty day simple moving average of $40.53 and a 200-day simple moving average of $39.39. Hess Midstream Partners has a fifty-two week low of $33.59 and a fifty-two week high of $44.14. The firm has a market cap of $7.33 billion, a P/E ratio of 12.95 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, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The business's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. Equities analysts predict that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 8.4%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is currently 109.26%.

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.