Hess Midstream Partners (NYSE:HESM) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Hess Midstream Partners has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook on the stock.
• Despite the downgrade, the company reported $0.74 EPS for the quarter, exceeding analysts' estimates, with a revenue increase of 13.3% year-over-year.
• Institutional investors dominate ownership, holding approximately 98.97% of the company's shares, indicating significant confidence in the firm's long-term potential.

Hess Midstream Partners (NYSE:HESM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

HESM has been the subject of several other reports. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. UBS Group reissued a "neutral" rating and set a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Morgan Stanley began coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. Finally, Citigroup lowered 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 research report on Tuesday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of "Hold" and an average target price of $43.00.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM traded up $0.03 during midday trading on Friday, reaching $34.89. 2,060,567 shares of the company's stock were exchanged, compared to its average volume of 1,711,428. The company's 50 day simple moving average is $40.21 and its two-hundred day simple moving average is $39.25. The firm has a market capitalization of $7.33 billion, a PE ratio of 12.92 and a beta of 0.68. Hess Midstream Partners has a 12 month low of $33.59 and a 12 month high of $44.14. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71.

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 analysts' consensus estimates of $0.56 by $0.18. The company had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. Equities research analysts expect that Hess Midstream Partners will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners during the first quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its holdings in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after purchasing an additional 941 shares during the period. Ameritas Advisory Services LLC acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $50,000. Finally, FSC Wealth Advisors LLC acquired a new position in Hess Midstream Partners during the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 98.97% of the company's stock.

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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