Hess Midstream Partners (HESM) Given a $31.00 Price Target by Scotiabank Analysts

Scotiabank set a $31.00 price target on Hess Midstream Partners (NYSE:HESM) in a research note published on Monday. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on HESM. Citigroup upgraded Hess Midstream Partners from a neutral rating to a buy rating and lowered their price target for the company from $28.00 to $25.00 in a research report on Friday, August 11th. Morgan Stanley upgraded Hess Midstream Partners from an equal weight rating to an overweight rating and raised their price target for the company from $25.00 to $26.00 in a research report on Wednesday, August 30th. BidaskClub upgraded Hess Midstream Partners from a strong sell rating to a sell rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded Hess Midstream Partners from a hold rating to a sell rating in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $27.83.

Shares of Hess Midstream Partners (NYSE HESM) traded down $0.20 during mid-day trading on Monday, hitting $21.30. The company had a trading volume of 72,100 shares, compared to its average volume of 117,183. Hess Midstream Partners has a one year low of $18.32 and a one year high of $26.78.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Hess Midstream Partners had a return on equity of 6.64% and a net margin of 28.19%. The business had revenue of $146.70 million for the quarter, compared to the consensus estimate of $116.27 million. analysts expect that Hess Midstream Partners will post 1.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, November 3rd were given a dividend of $0.3107 per share. The ex-dividend date was Thursday, November 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 5.83%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC purchased a new position in shares of Hess Midstream Partners in the second quarter worth about $4,056,000. Neuberger Berman Group LLC purchased a new position in shares of Hess Midstream Partners in the second quarter worth about $4,133,000. Spirit of America Management Corp NY increased its holdings in shares of Hess Midstream Partners by 46.3% in the third quarter. Spirit of America Management Corp NY now owns 223,338 shares of the company’s stock worth $4,907,000 after buying an additional 70,638 shares during the period. Atlantic Trust Group LLC purchased a new position in shares of Hess Midstream Partners in the second quarter worth about $5,853,000. Finally, CNH Partners LLC purchased a new position in shares of Hess Midstream Partners in the second quarter worth about $346,000. Institutional investors and hedge funds own 57.16% of the company’s stock.

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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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