Hess Midstream Partners (NYSE:HESM) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Hess Midstream Partners from a "hold" to a "strong-buy" rating, reflecting increased confidence in the company's future performance.
• The stock has shown mixed responses from various brokerages, with Goldman Sachs issuing a "neutral" rating and a price target of $36.00, while Wells Fargo downgraded it to "reduce."
• Hess Midstream reported a $0.74 EPS for the latest quarter, surpassing expectations and demonstrating a year-over-year revenue increase of 13.3%.

Hess Midstream Partners (NYSE:HESM - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on HESM. The Goldman Sachs Group began coverage on Hess Midstream Partners in a report on Tuesday. They set a "neutral" rating and a $36.00 price objective for the company. Wall Street Zen cut Hess Midstream Partners from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. UBS Group restated a "neutral" rating and set a $43.00 price objective (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Finally, Wells Fargo & Company downgraded shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.00.

Hess Midstream Partners Trading Down 0.5%

Shares of NYSE:HESM opened at $34.53 on Monday. Hess Midstream Partners has a 12-month low of $33.59 and a 12-month high of $44.14. The stock has a market cap of $7.25 billion, a PE ratio of 12.79 and a beta of 0.68. The business has a 50 day moving average of $40.02 and a 200-day moving average of $39.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HESM. California State Teachers Retirement System increased its holdings in shares of Hess Midstream Partners by 12.3% during the fourth quarter. California State Teachers Retirement System now owns 89,624 shares of the company's stock worth $3,319,000 after buying an additional 9,808 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Hess Midstream Partners by 4,809.7% during the first quarter. GAMMA Investing LLC now owns 11,587 shares of the company's stock worth $4,900,000 after buying an additional 11,351 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Hess Midstream Partners by 107,126.9% during the first quarter. NBC Securities Inc. now owns 27,879 shares of the company's stock worth $1,179,000 after buying an additional 27,853 shares in the last quarter. Naples Global Advisors LLC increased its holdings in shares of Hess Midstream Partners by 1.6% during the first quarter. Naples Global Advisors LLC now owns 65,225 shares of the company's stock worth $2,758,000 after buying an additional 1,050 shares in the last quarter. Finally, Stokes Capital Advisors LLC increased its holdings in shares of Hess Midstream Partners by 0.8% during the first quarter. Stokes Capital Advisors LLC now owns 149,974 shares of the company's stock worth $6,342,000 after buying an additional 1,212 shares in the last quarter. 98.97% of the stock is currently 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.

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