Brokerages Set Hess Midstream Partners LP (NASDAQ:HESM) Price Target at $29.40

Hess Midstream Partners LP (NASDAQ:HESM) has been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $29.40.

Several equities analysts have recently issued reports on HESM shares. Goldman Sachs Group, Inc. (The) started coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set a “buy” rating and a $32.00 price target on the stock. Scotiabank set a $31.00 price target on Hess Midstream Partners and gave the company a “buy” rating in a research report on Friday, May 19th. Morgan Stanley started coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set a “weight” rating and a $27.00 price target on the stock. J P Morgan Chase & Co started coverage on Hess Midstream Partners in a research report on Monday, May 1st. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Citigroup Inc. started coverage on Hess Midstream Partners in a research report on Tuesday, May 2nd. They set a “neutral” rating and a $28.00 price target on the stock.

Shares of Hess Midstream Partners (NASDAQ HESM) traded down 0.05% during trading on Friday, hitting $19.61. The stock had a trading volume of 35,011 shares. The stock has a 50-day moving average of $19.51 and a 200 day moving average of $22.60. Hess Midstream Partners has a 12-month low of $1.42 and a 12-month high of $26.78. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of 7.84.

Hess Midstream Partners (NASDAQ:HESM) last posted its earnings results on Thursday, July 27th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by $0.02. The company had revenue of $138.30 million during the quarter, compared to analysts’ expectations of $111.37 million. On average, analysts predict that Hess Midstream Partners will post $0.98 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be given a dividend of $0.2703 per share. The ex-dividend date is Wednesday, August 2nd.

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Institutional investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $17,335,000. Russell Investments Group Ltd. purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $7,013,000. Atlantic Trust Group LLC purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $5,853,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $5,777,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Hess Midstream Partners during the second quarter valued at about $4,133,000.

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).

Analyst Recommendations for Hess Midstream Partners (NASDAQ:HESM)

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