Zacks Investment Research Downgrades Hess Midstream Partners (HESM) to Hold

Hess Midstream Partners (NYSE:HESM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. BidaskClub upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Scotiabank set a $31.00 target price on Hess Midstream Partners and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Wells Fargo & Co upgraded Hess Midstream Partners from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $26.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.71.

Shares of Hess Midstream Partners (NYSE HESM) traded down $0.04 during trading on Friday, reaching $21.35. The company’s stock had a trading volume of 374,398 shares, compared to its average volume of 182,278. Hess Midstream Partners has a 12 month low of $18.32 and a 12 month high of $26.78.

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

Several hedge funds have recently modified their holdings of HESM. FMR LLC purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth $54,210,000. Cohen & Steers Inc. lifted its holdings in shares of Hess Midstream Partners by 29.0% in the 3rd quarter. Cohen & Steers Inc. now owns 1,727,200 shares of the company’s stock worth $37,947,000 after buying an additional 388,552 shares during the period. NBW Capital LLC purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth $6,950,000. Goldman Sachs Group Inc. purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth $6,156,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Hess Midstream Partners by 128.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 284,400 shares of the company’s stock worth $6,248,000 after buying an additional 159,900 shares during the period. 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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