Hess Midstream Partners (NYSE:HESM) Upgraded to Hold at The Goldman Sachs Group

Key Points

• Hess Midstream Partners has been upgraded to a "hold" rating by The Goldman Sachs Group, indicating a change in sentiment towards the stock.
• Various analysts have adjusted their price targets, with Citi lowering it from $41 to $37 and Morgan Stanley setting a new target at $48.
• Despite mixed ratings, the consensus among analysts is a "Hold" with a target price of $42.00, while the stock has recently been trading around $34.53.

Hess Midstream Partners (NYSE:HESM - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Citigroup lowered their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. Morgan Stanley initiated coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Wells Fargo & Company downgraded Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research report on Friday, September 19th. Finally, UBS Group reissued a "neutral" rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $42.00.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $34.53 on Monday. The company has a market cap of $7.25 billion, a P/E ratio of 12.79 and a beta of 0.68. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day moving average of $40.02 and a two-hundred day moving average of $39.15. Hess Midstream Partners has a 1-year low of $33.59 and a 1-year 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 for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.Hess Midstream Partners's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HESM. Alps Advisors Inc. lifted its stake in Hess Midstream Partners by 31.1% in the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after buying an additional 6,251,664 shares during the last quarter. Invesco Ltd. lifted its stake in Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company's stock valued at $231,915,000 after buying an additional 2,020,430 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Hess Midstream Partners by 92.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company's stock valued at $80,739,000 after buying an additional 1,006,998 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its stake in Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company's stock valued at $94,497,000 after buying an additional 857,669 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.