Hess Midstream Partners (NYSE:HESM) Price Target Raised to $48.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for Hess Midstream Partners from $47.00 to $48.00, indicating a potential upside of 12.56% from the current stock price and maintaining an "overweight" rating.
• The company reported $0.74 earnings per share for the last quarter, exceeding analyst expectations of $0.56, and showing a 13.3% increase in revenue year-over-year.
• Institutional investors hold a significant stake in Hess Midstream Partners, with ownership at approximately 98.97%, as several firms have recently increased their positions in the stock.

Hess Midstream Partners (NYSE:HESM - Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $47.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 12.56% from the stock's current price.

Separately, Morgan Stanley started coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $45.80.

Hess Midstream Partners Trading Down 2.0%

NYSE HESM traded down $0.89 during mid-day trading on Friday, hitting $42.65. The company's stock had a trading volume of 43,285 shares, compared to its average volume of 1,303,288. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. Hess Midstream Partners has a 52-week low of $33.59 and a 52-week high of $44.14. The stock's fifty day simple moving average is $38.81 and its two-hundred day simple moving average is $39.39. The firm has a market capitalization of $9.19 billion, a P/E ratio of 15.80 and a beta of 0.63.

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

Insider Buying and Selling

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

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its stake in shares of Hess Midstream Partners by 31.1% in the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after buying an additional 6,251,664 shares during the period. Artemis Investment Management LLP raised its stake in shares of Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock worth $83,288,000 after purchasing an additional 1,118,245 shares during the last quarter. Eagle Global Advisors LLC raised its stake in shares of Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company's stock worth $94,497,000 after purchasing an additional 857,669 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $30,735,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Hess Midstream Partners during the first quarter valued at approximately $29,640,000. 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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