Hess Midstream Partners (NYSE:HESM) Stock Price Crosses Below Fifty Day Moving Average - Should You Sell?

Key Points

• Hess Midstream Partners shares dipped below their 50-day moving average, trading as low as $39.10 versus the $39.15 average, while the stock last traded near $39.17.
• Analyst sentiment is cautious: the consensus rating is “Reduce”, with one Buy, six Hold, and two Sell ratings and an average price target of $38.86.
• The company exceeded quarterly earnings expectations, reporting $0.75 in EPS and $399 million in revenue, and raised its quarterly dividend to $0.7888 per share, implying an annualized yield of about 8.1%.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $39.15 and traded as low as $39.10. Hess Midstream Partners shares last traded at $39.17, with a volume of 1,082,273 shares changing hands.

Wall Street Analyst Weigh In

HESM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Morgan Stanley reiterated an "underweight" rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Hess Midstream Partners has a consensus rating of "Reduce" and an average price target of $38.86.

Hess Midstream Partners Stock Performance

The company's 50-day moving average price is $39.15 and its two-hundred day moving average price is $38.70. The company has a market cap of $8.08 billion, a P/E ratio of 13.51 and a beta of 0.52. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 earnings per share. As a group, equities analysts forecast that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were given a dividend of $0.7888 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.1%. Hess Midstream Partners's payout ratio is currently 108.62%.

Hedge Funds Weigh In On Hess Midstream Partners

Hedge funds have recently modified their holdings of the stock. Grove Bank & Trust purchased a new stake in shares of Hess Midstream Partners during the second quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners in the 4th quarter worth about $44,000. IFP Advisors Inc raised its holdings in Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company's stock worth $49,000 after buying an additional 582 shares during the period. CENTRAL TRUST Co raised its holdings in Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company's stock worth $84,000 after buying an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after buying an additional 300 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.

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