Hess Midstream Partners (HESM) Downgraded to Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Hess Midstream Partners (NYSE:HESM) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.

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. “

HESM has been the subject of several other reports. Wells Fargo & Co reiterated a market perform rating and set a $24.00 price objective (down from $27.00) on shares of Hess Midstream Partners in a research note on Tuesday, March 19th. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from an overweight rating to a neutral rating and set a $27.00 target price for the company. in a research note on Tuesday, March 12th. Finally, Mitsubishi UFJ Financial Group restated an overweight rating on shares of Hess Midstream Partners in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Hess Midstream Partners currently has an average rating of Hold and a consensus price target of $25.33.

HESM traded up $0.23 during trading on Tuesday, hitting $20.50. 59,155 shares of the company’s stock were exchanged, compared to its average volume of 71,817. Hess Midstream Partners has a 1 year low of $16.17 and a 1 year high of $24.51. The company has a market cap of $554.29 million, a P/E ratio of 16.14, a P/E/G ratio of 1.30 and a beta of 1.60.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Hess Midstream Partners had a return on equity of 2.62% and a net margin of 10.43%. The business had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $172.85 million. As a group, equities research analysts anticipate that Hess Midstream Partners will post 1.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, May 3rd were paid a $0.3833 dividend. The ex-dividend date was Thursday, May 2nd. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.53 annualized dividend and a dividend yield of 7.48%. Hess Midstream Partners’s dividend payout ratio is 120.47%.

In other news, CFO Jonathan C. Stein sold 1,381 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.63, for a total value of $31,252.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,714 shares of company stock valued at $60,318 over the last 90 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in Hess Midstream Partners by 7.7% in the first quarter. FMR LLC now owns 1,820,423 shares of the company’s stock valued at $38,593,000 after acquiring an additional 129,407 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Hess Midstream Partners by 38.5% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 988,404 shares of the company’s stock worth $16,772,000 after purchasing an additional 274,810 shares during the period. Morgan Stanley raised its holdings in shares of Hess Midstream Partners by 27.1% during the first quarter. Morgan Stanley now owns 914,371 shares of the company’s stock worth $19,385,000 after purchasing an additional 194,876 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of Hess Midstream Partners by 1.1% during the first quarter. Duff & Phelps Investment Management Co. now owns 225,431 shares of the company’s stock worth $4,779,000 after purchasing an additional 2,370 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Hess Midstream Partners by 20.7% during the first quarter. Acadian Asset Management LLC now owns 175,451 shares of the company’s stock worth $3,719,000 after purchasing an additional 30,145 shares during the period. 48.78% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.

Featured Story: Do Tariffs Work?

Get a free copy of the Zacks research report on Hess Midstream Partners (HESM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Hess Midstream Partners (NYSE:HESM)

Receive News & Ratings for Hess Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.