Zacks Investment Research lowered shares of Hess Midstream Partners LP (NASDAQ:HESM) from a buy rating to a hold rating in a research report released on Friday, July 21st.
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 analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Hess Midstream Partners in a research report on Monday, May 1st. They issued a buy rating and a $32.00 target price on the stock. Scotiabank set a $31.00 target price on shares of Hess Midstream Partners and gave the company a buy rating in a research report on Friday, May 19th. Morgan Stanley lifted their target price on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the company an equal weight rating in a research report on Friday, July 14th. Citigroup Inc. started coverage on shares of Hess Midstream Partners in a research report on Tuesday, May 2nd. They issued a neutral rating and a $28.00 target price on the stock. Finally, J P Morgan Chase & Co initiated coverage on shares of Hess Midstream Partners in a research report on Monday, May 1st. They issued an overweight rating and a $30.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Hess Midstream Partners currently has an average rating of Buy and an average price target of $27.83.
Shares of Hess Midstream Partners (HESM) traded up 0.15% during midday trading on Friday, hitting $19.67. 27,091 shares of the stock were exchanged. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78. The firm’s 50-day moving average is $19.48 and its 200-day moving average is $22.28. The stock has a market cap of $1.07 billion and a price-to-earnings ratio of 7.86.
Hess Midstream Partners (NASDAQ:HESM) last announced its earnings results on Thursday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $138.30 million for the quarter, compared to analyst estimates of $111.37 million. Equities research analysts predict that Hess Midstream Partners will post $0.93 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were given a dividend of $0.2703 per share. The ex-dividend date was Wednesday, August 2nd.
A number of institutional investors have recently bought and sold shares of HESM. Spirit of America Management Corp NY acquired a new position in Hess Midstream Partners during the second quarter worth $3,111,000. Duff & Phelps Investment Management Co. acquired a new position in Hess Midstream Partners during the second quarter worth $2,442,000. Center Coast Capital Advisors LP acquired a new position in Hess Midstream Partners during the second quarter worth $1,037,000. State of New Jersey Common Pension Fund D acquired a new position in Hess Midstream Partners during the second quarter worth $2,536,000. Finally, Lucas Capital Management acquired a new position in Hess Midstream Partners during the second quarter worth $624,000.
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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