Hess Midstream Partners (NYSE:HESM) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Hess Midstream Partners has been upgraded to a "buy" rating by Wall Street Zen, moving up from a previous "hold" designation.
• Wells Fargo & Company has increased its price target for Hess Midstream shares from $47.00 to $48.00, also assigning an "overweight" rating.
• The company recently reported earnings per share (EPS) of $0.74 for the latest quarter, surpassing the consensus estimate of $0.56.

Wall Street Zen upgraded shares of Hess Midstream Partners (NYSE:HESM - Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company raised their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley started coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.

Hess Midstream Partners Stock Down 3.3%

Hess Midstream Partners stock traded down $1.41 during midday trading on Friday, hitting $41.70. The stock had a trading volume of 1,888,916 shares, compared to its average volume of 1,321,735. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92. The stock has a market cap of $8.99 billion, a P/E ratio of 15.41 and a beta of 0.67. Hess Midstream Partners has a 12 month low of $33.59 and a 12 month high of $44.14. The business has a fifty day moving average price of $38.99 and a 200 day moving average price of $39.42.

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 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 during the quarter, compared to the consensus estimate of $405.08 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be issued a dividend of $0.737 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 7.1%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is 105.19%.

Insider Transactions at Hess Midstream Partners

In other news, Director Geurt G. Schoonman sold 3,249 shares of the business's 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HESM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Hess Midstream Partners during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hess Midstream Partners during the first quarter valued at about $31,000. Farther Finance Advisors LLC lifted its position in shares of 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 buying an additional 941 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Hess Midstream Partners during the second quarter valued at about $50,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Hess Midstream Partners during the first quarter valued at about $58,000. 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.