Hess Midstream Partners (HESM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Hess Midstream Partners (NYSE:HESM) from a buy rating to a hold rating in a report released on Thursday, January 18th.

According to Zacks, “Hess Midstream Partners LP is a master limited partnership company. It own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The company’s operating segments consists of gathering; processing and storage and terminaling and export. Hess Midstream Partners LP is based in Houston, United States. “

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co upgraded shares of Hess Midstream Partners from a market perform rating to an outperform rating and lifted their target price for the stock from $24.00 to $26.00 in a research report on Thursday, January 11th. Scotiabank set a $31.00 target price on shares of Hess Midstream Partners and gave the stock a buy rating in a research report on Monday, December 4th. Finally, BidaskClub upgraded shares of Hess Midstream Partners from a strong sell rating to a sell rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Hess Midstream Partners has a consensus rating of Buy and a consensus price target of $27.71.

Shares of Hess Midstream Partners (NYSE HESM) traded down $1.03 during midday trading on Thursday, hitting $19.86. 132,189 shares of the company traded hands, compared to its average volume of 163,250. Hess Midstream Partners has a 12-month low of $18.32 and a 12-month high of $26.78.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The company had revenue of $150.50 million during the quarter, compared to analyst estimates of $146.60 million. Hess Midstream Partners had a net margin of 18.29% and a return on equity of 4.20%. research analysts forecast that Hess Midstream Partners will post 1.19 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Investors of record on Friday, February 2nd will be issued a $0.322 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.29 dividend on an annualized basis and a yield of 6.49%.

A number of institutional investors have recently added to or reduced their stakes in HESM. Wells Fargo & Company MN purchased a new stake in Hess Midstream Partners in the second quarter valued at approximately $1,561,000. FMR LLC acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $54,210,000. BP Capital Fund Advisors LLC acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $1,882,000. Cbre Clarion Securities LLC acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $2,051,000. Finally, OxFORD Asset Management LLP acquired a new position in Hess Midstream Partners during the second quarter valued at approximately $2,299,000. Hedge funds and other institutional investors own 57.28% of the company’s stock.

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Hess Midstream Partners Company Profile

Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).

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