Hess Midstream Partners (NYSE:HESM) Hits New 52-Week Low - Should You Sell?

Key Points

• Hess Midstream Partners' stock reached a new 52-week low at $33.53, closing slightly higher at $33.63 with a trading volume of 557,304 shares.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $42.00 after recent adjustments from firms like Wells Fargo and JPMorgan.
• The company announced a quarterly dividend increase from $0.71 to $0.737, resulting in an annualized yield of 8.9%, despite a high payout ratio of 109.26%.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $33.53 and last traded at $33.63, with a volume of 557304 shares changing hands. The stock had previously closed at $34.41.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HESM shares. Wells Fargo & Company cut Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price target on the stock. Zacks Research raised Hess Midstream Partners from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $42.00.

Hess Midstream Partners Price Performance

The firm has a fifty day moving average price of $39.71 and a two-hundred day moving average price of $38.93. The stock has a market capitalization of $6.99 billion, a P/E ratio of 12.33 and a beta of 0.58. 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 released 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 return on equity of 60.37% 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 period last year, the company earned $0.59 EPS. Hess Midstream Partners's revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a $0.737 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a yield of 8.9%. Hess Midstream Partners's payout ratio is 109.26%.

Insider Transactions at Hess Midstream Partners

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 stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Hess Midstream Partners by 4,809.7% in the 1st quarter. GAMMA Investing LLC now owns 11,587 shares of the company's stock worth $4,900,000 after purchasing an additional 11,351 shares in the last quarter. Capital Investment Advisors LLC bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at approximately $217,000. Baldwin Wealth Partners LLC MA purchased a new position in Hess Midstream Partners during the 1st quarter valued at $254,000. Farther Finance Advisors LLC boosted its holdings in Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after acquiring an additional 941 shares during the period. Finally, Dividend Assets Capital LLC boosted its holdings in Hess Midstream Partners by 37.6% during the 1st quarter. Dividend Assets Capital LLC now owns 34,569 shares of the company's stock valued at $1,462,000 after acquiring an additional 9,446 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

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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