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

Zacks Investment Research cut shares of Hess Midstream Partners (NYSE:HESM) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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 research analysts have also recently issued reports about the stock. BidaskClub cut shares of Hess Midstream Partners from a sell rating to a strong sell rating in a report on Saturday, October 21st. Scotiabank set a $31.00 price target on shares of Hess Midstream Partners and gave the stock a buy rating in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $27.83.

Shares of Hess Midstream Partners (NYSE HESM) traded down $0.09 on Friday, hitting $21.21. 122,800 shares of the stock traded hands, compared to its average volume of 115,225. Hess Midstream Partners has a twelve month low of $18.32 and a twelve month high of $26.78.

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

Institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC purchased a new position in Hess Midstream Partners in the second quarter valued at about $4,133,000. Spirit of America Management Corp NY increased its holdings in 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 valued at $4,907,000 after buying an additional 70,638 shares in the last quarter. Atlantic Trust Group LLC purchased a new position in Hess Midstream Partners in the second quarter valued at about $5,853,000. Cohen & Steers Inc. increased its holdings in Hess Midstream Partners by 29.0% in the third quarter. Cohen & Steers Inc. now owns 1,727,200 shares of the company’s stock valued at $37,947,000 after buying an additional 388,552 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Hess Midstream Partners in the second quarter valued at about $6,156,000. 57.16% of the stock is owned by institutional investors.

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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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