Hess Midstream Partners (NYSE:HESM) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Hess Midstream Partners from a "strong-buy" rating to a "strong sell" rating, amidst mixed opinions from other analysts.
• Shares of Hess Midstream Partners opened at $33.27, with a market capitalization of $6.99 billion and a PE ratio of 12.32.
• Institutional investors own 98.97% of the stock, indicating strong institutional interest and recent transactions increasing stakes among various funds.

Hess Midstream Partners (NYSE:HESM - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "strong sell" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Citigroup decreased their price objective on shares of Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, September 23rd. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Wells Fargo & Company lowered shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research note on Friday, September 19th. Finally, UBS Group reiterated a "neutral" rating and issued a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $42.00.

Hess Midstream Partners Stock Up 0.5%

Shares of NYSE HESM opened at $33.27 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14. The firm has a market capitalization of $6.99 billion, a PE ratio of 12.32 and a beta of 0.58. The firm has a fifty day simple moving average of $37.53 and a two-hundred day simple moving average of $38.19.

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

Insiders Place Their Bets

In other Hess Midstream Partners 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 transaction of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Hess Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GraniteShares Advisors LLC increased its stake in Hess Midstream Partners by 9.7% during the 3rd quarter. GraniteShares Advisors LLC now owns 82,610 shares of the company's stock valued at $2,854,000 after purchasing an additional 7,276 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Hess Midstream Partners by 29.6% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 74,423 shares of the company's stock valued at $2,571,000 after purchasing an additional 17,000 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Hess Midstream Partners by 0.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,317,200 shares of the company's stock valued at $80,059,000 after purchasing an additional 20,000 shares in the last quarter. Gilman Hill Asset Management LLC bought a new stake in Hess Midstream Partners during the 3rd quarter valued at about $686,000. Finally, Farther Finance Advisors LLC increased its stake in Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company's stock valued at $93,000 after purchasing an additional 333 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

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.

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