Hess Midstream Partners (NYSE:HESM) Now Covered by Morgan Stanley

Key Points

• Morgan Stanley has initiated coverage of Hess Midstream Partners (NYSE:HESM) with an "equal weight" rating and a price target of $48.00, indicating a potential upside of 21.65% from its current price.
• The stock currently has an average rating of "Hold" and an average price target of $44.40, with several analysts reflecting mixed sentiments on its future performance.
• Institutional investors own nearly 99% of Hess Midstream Partners' stock, with significant recent acquisitions from firms like Alps Advisors and Goldman Sachs Group.

Stock analysts at Morgan Stanley assumed coverage on shares of Hess Midstream Partners (NYSE:HESM - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set an "equal weight" rating and a $48.00 price target on the stock. Morgan Stanley's price target points to a potential upside of 21.65% from the stock's current price.

HESM has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $44.40.

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $39.46 on Friday. The business has a 50 day moving average of $38.48 and a two-hundred day moving average of $39.28. 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 company has a market cap of $8.50 billion, a P/E ratio of 15.47 and a beta of 0.63. Hess Midstream Partners has a 52 week low of $33.59 and a 52 week high of $44.05.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. Hess Midstream Partners's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. As a group, analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hess Midstream Partners

A number of hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in Hess Midstream Partners by 31.1% during the first 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 during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Hess Midstream Partners by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after buying an additional 83,943 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Hess Midstream Partners by 10.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock valued at $305,916,000 after buying an additional 655,062 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hess Midstream Partners by 9.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company's stock valued at $232,754,000 after buying an additional 492,683 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Hess Midstream Partners by 4.9% during the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after buying an additional 191,175 shares during 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.