Hess Midstream Partners (NYSE:HESM) Raised to Buy at Wall Street Zen

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.

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

Several other equities research analysts also recently issued reports on HESM. Wells Fargo & Company raised their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday. Morgan Stanley assumed 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 target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.80.

Hess Midstream Partners Trading Down 2.3%

Shares of NYSE:HESM opened at $42.51 on Friday. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. The stock's 50-day moving average is $38.89 and its 200-day moving average is $39.41. The company has a market cap of $9.16 billion, a P/E ratio of 15.74 and a beta of 0.67. Hess Midstream Partners has a 52-week low of $33.59 and a 52-week high of $44.14.

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, beating analysts' consensus estimates of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 61.46% and a net margin of 18.52%. The company's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities research analysts predict that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Insider Activity

In other news, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here.

Institutional Trading of Hess Midstream Partners

Several institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hess Midstream Partners during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Hess Midstream Partners during the 1st quarter valued at about $31,000. Farther Finance Advisors LLC lifted 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 purchasing an additional 941 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Hess Midstream Partners in the second quarter valued at about $50,000. Finally, FSC Wealth Advisors LLC bought a new stake in Hess Midstream Partners during the first quarter worth about $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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