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Hess Midstream Partners LP (HESM) Upgraded to “Buy” at Zacks Investment Research
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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. “
A number of other research firms have also recently commented on HESM. Citigroup Inc. initiated coverage on Hess Midstream Partners in a research note on Tuesday, May 2nd. They set a neutral rating and a $28.00 price target on the stock. Scotiabank set a $31.00 price objective on Hess Midstream Partners and gave the stock a buy rating in a research report on Friday, May 19th. Morgan Stanley initiated coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set a weight rating and a $27.00 price objective on the stock. J P Morgan Chase & Co initiated coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set an overweight rating and a $30.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set a buy rating and a $32.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $28.33.
Hess Midstream Partners (NASDAQ:HESM) opened at 21.40 on Tuesday. The stock has a market capitalization of $1.17 billion and a P/E ratio of 5.25. Hess Midstream Partners has a one year low of $1.42 and a one year high of $26.78. The stock has a 50 day moving average price of $20.02 and a 200-day moving average price of $22.77.
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A hedge fund recently bought a new stake in Hess Midstream Partners stock. Spirit of America Management Corp NY acquired a new position in Hess Midstream Partners LP (NASDAQ:HESM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 152,700 shares of the company’s stock, valued at approximately $3,111,000. Spirit of America Management Corp NY owned approximately 0.28% of Hess Midstream Partners as of its most recent SEC filing.
About Hess Midstream Partners
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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