Morgan Stanley Lowers Hess Midstream Partners (HESM) Price Target to $24.00

Hess Midstream Partners (NYSE:HESM) had its price target reduced by Morgan Stanley from $25.00 to $24.00 in a report issued on Friday morning. Morgan Stanley currently has an overweight rating on the stock.

HESM has been the subject of a number of other reports. TheStreet upgraded shares of Hess Midstream Partners from a d+ rating to a c rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Hess Midstream Partners from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Saturday, November 3rd. Credit Suisse Group initiated coverage on shares of Hess Midstream Partners in a research note on Thursday, October 11th. They set an outperform rating and a $29.00 price objective for the company. Finally, Citigroup raised their price objective on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, October 16th. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus price target of $26.67.

HESM stock opened at $19.26 on Friday. Hess Midstream Partners has a 12-month low of $18.51 and a 12-month high of $24.51. The company has a market cap of $525.74 million, a PE ratio of 15.79, a P/E/G ratio of 1.36 and a beta of 1.09.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Hess Midstream Partners had a net margin of 10.53% and a return on equity of 2.58%. The company had revenue of $169.50 million during the quarter, compared to the consensus estimate of $169.15 million. Sell-side analysts anticipate that Hess Midstream Partners will post 1.29 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th were paid a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 7.42%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 2nd.

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Hess Midstream Partners by 0.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 335,962 shares of the company’s stock worth $7,663,000 after purchasing an additional 2,730 shares in the last quarter. Franklin Square Holdings L.P. increased its stake in shares of Hess Midstream Partners by 7.9% during the 3rd quarter. Franklin Square Holdings L.P. now owns 38,490 shares of the company’s stock worth $891,000 after purchasing an additional 2,815 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Hess Midstream Partners by 3.6% during the 3rd quarter. Wells Fargo & Company MN now owns 240,622 shares of the company’s stock worth $5,489,000 after purchasing an additional 8,283 shares in the last quarter. BP Capital Fund Advisors LLC increased its stake in shares of Hess Midstream Partners by 7.4% during the 3rd quarter. BP Capital Fund Advisors LLC now owns 126,693 shares of the company’s stock worth $2,842,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Hess Midstream Partners during the 2nd quarter worth approximately $244,000. 51.04% of the stock is owned by institutional investors and hedge funds.

About Hess Midstream Partners

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 include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.

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