Hess Midstream Partners (NYSE:HESM) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Hess Midstream Partners was upgraded from an "equal weight" to an "overweight" rating by Wells Fargo & Company, with a price target of $47.00, indicating a potential upside of 16.04% from its previous close.
• The company reported $0.65 earnings per share for the last quarter, exceeding the consensus estimate of $0.63 while experiencing a 7.4% year-over-year revenue increase.
• Major shareholder Blackrock Portfolio Management sold over 15 million shares at an average price of $36.86, totaling approximately $553.7 million.
• Hess Midstream Partners has a market capitalization of $8.73 billion and maintains strong institutional investor support, with nearly 99% of shares owned by institutional investors and hedge funds.

Hess Midstream Partners (NYSE:HESM - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Friday,Finviz reports. The firm currently has a $47.00 price target on the stock. Wells Fargo & Company's price target would suggest a potential upside of 16.04% from the company's previous close.

Other analysts also recently issued reports about the company. Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday. They issued an "equal weight" rating and a $48.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $45.60.

Hess Midstream Partners Stock Up 2.6%

NYSE:HESM opened at $40.50 on Friday. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 15.89 and a beta of 0.63. Hess Midstream Partners has a twelve month low of $33.59 and a twelve month high of $44.05. The stock's 50 day moving average price is $38.48 and its two-hundred day moving average price is $39.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities research analysts expect that Hess Midstream Partners will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors have recently modified their holdings of HESM. ProShare Advisors LLC raised its position in Hess Midstream Partners by 5.7% in the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after purchasing an additional 429 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Hess Midstream Partners by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after purchasing an additional 432 shares during the last quarter. WBI Investments LLC raised its position in Hess Midstream Partners by 2.5% in the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company's stock valued at $678,000 after purchasing an additional 446 shares during the last quarter. Leisure Capital Management raised its position in shares of Hess Midstream Partners by 2.0% during the first quarter. Leisure Capital Management now owns 26,681 shares of the company's stock worth $1,128,000 after acquiring an additional 533 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Hess Midstream Partners by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock worth $615,000 after acquiring an additional 570 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

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.

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