Brokerages Set Hess Midstream Partners LP (NYSE:HESM) Price Target at $45.80

Key Points

• Hess Midstream Partners LP has been rated as a "Moderate Buy" by five research firms, with two hold ratings and three buy ratings, and an average 12-month price target of $45.80.
• The company has reported earnings of $0.74 per share for the last quarter, surpassing analyst estimates, alongside a revenue increase of 13.3% year-over-year.
• Hess Midstream Partners announced an increase in its quarterly dividend to $0.737, representing an annualized yield of 6.9%, with a dividend payout ratio of 105.19%.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.80.

A number of research firms have commented on HESM. Wells Fargo & Company raised their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Morgan Stanley began coverage on Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 price target for the company. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday.

Hess Midstream Partners Stock Performance

NYSE:HESM traded down $0.19 during midday trading on Friday, reaching $41.78. The stock had a trading volume of 1,227,782 shares, compared to its average volume of 1,334,132. The firm has a fifty day simple moving average of $39.06 and a two-hundred day simple moving average of $39.44. Hess Midstream Partners has a 12-month low of $33.59 and a 12-month high of $44.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92. The stock has a market cap of $9.00 billion, a P/E ratio of 15.49 and a beta of 0.67.

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 analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 61.46% and a net margin of 18.52%. The company had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter last year, the company earned $0.59 earnings per share. Hess Midstream Partners's quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts expect that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Thursday, August 7th. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio (DPR) is presently 105.19%.

Insider Transactions at Hess Midstream Partners

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. raised its position in shares of Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after acquiring an additional 6,251,664 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Hess Midstream Partners by 1.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock worth $280,728,000 after buying an additional 83,943 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Hess Midstream Partners by 10.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock worth $305,916,000 after buying an additional 655,062 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hess Midstream Partners by 9.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company's stock worth $232,754,000 after buying an additional 492,683 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Hess Midstream Partners by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after buying an additional 191,175 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

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.