Hess Midstream Partners (NYSE:HESM) Given "Equal Weight" Rating at Wells Fargo & Company

Key Points

• Hess Midstream Partners has been downgraded by Wells Fargo from an "overweight" to an "equal weight" rating, with a new price target of $39.00, down from $48.00.
• The stock has an average target price of $43.67, with analysts generally rating it as a "Hold," though one has issued a "Buy" rating.
• Hess Midstream reported a $0.74 EPS for the latest quarter, surpassing analysts' expectations, while also posting a 13.3% increase in revenue year-over-year.

Wells Fargo & Company reissued their equal weight rating on shares of Hess Midstream Partners (NYSE:HESM - Free Report) in a research report sent to investors on Friday, Marketbeat reports. Wells Fargo & Company currently has a $39.00 price objective on the stock, down from their prior price objective of $48.00.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 target price for the company. UBS Group reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Citigroup reissued a "neutral" rating and set a $41.00 target price (down previously from $42.00) on shares of Hess Midstream Partners in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $43.67.

Hess Midstream Partners Stock Performance

NYSE:HESM traded down $0.17 on Friday, hitting $35.20. The company's stock had a trading volume of 2,336,638 shares, compared to its average volume of 1,366,185. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners has a one year low of $33.59 and a one year high of $44.14. The stock has a fifty day moving average of $40.60 and a two-hundred day moving average of $39.43. The firm has a market capitalization of $7.39 billion, a P/E ratio of 13.04 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the prior year, the business earned $0.59 EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts predict that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.4%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is 108.89%.

Insider Activity at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in Hess Midstream Partners by 17.6% in the 2nd quarter. Osaic Holdings Inc. now owns 115,939 shares of the company's stock valued at $4,465,000 after buying an additional 17,314 shares during the last quarter. Squarepoint Ops LLC grew its position in Hess Midstream Partners by 362.1% in the 2nd quarter. Squarepoint Ops LLC now owns 28,334 shares of the company's stock worth $1,091,000 after purchasing an additional 22,202 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock worth $92,000 after buying an additional 300 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Hess Midstream Partners by 92.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company's stock worth $80,739,000 after buying an additional 1,006,998 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in shares of Hess Midstream Partners in the second quarter valued at approximately $4,159,000. Institutional investors 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.