Hess Midstream Partners LP (HESM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Hess Midstream Partners LP (NASDAQ:HESM) from a buy rating to a hold rating in a report released on Friday, July 21st.

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. “

Several other brokerages have also recently issued reports on HESM. Citigroup Inc. started coverage on shares of Hess Midstream Partners in a report on Tuesday, May 2nd. They issued a neutral rating and a $28.00 target price for the company. Scotiabank set a $31.00 target price on shares of Hess Midstream Partners and gave the company a buy rating in a report on Friday, May 19th. Morgan Stanley started coverage on shares of Hess Midstream Partners in a report on Monday, May 1st. They issued a weight rating and a $27.00 target price for the company. J P Morgan Chase & Co started coverage on shares of Hess Midstream Partners in a research report on Monday, May 1st. They issued an overweight rating and a $30.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Hess Midstream Partners in a research report on Monday, May 1st. They issued a buy rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hess Midstream Partners currently has a consensus rating of Buy and an average price target of $27.83.

Hess Midstream Partners (NASDAQ:HESM) traded up 0.15% during trading on Friday, hitting $19.67. 27,091 shares of the stock were exchanged. The stock’s 50 day moving average price is $19.48 and its 200 day moving average price is $22.28. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78. The stock has a market cap of $1.07 billion and a P/E ratio of 7.86.

Hess Midstream Partners (NASDAQ:HESM) last issued its earnings results on Thursday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.02. The firm had revenue of $138.30 million for the quarter, compared to analyst estimates of $111.37 million. Analysts forecast that Hess Midstream Partners will post $0.93 EPS for the current fiscal year.

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The firm also recently declared a special dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were given a $0.2703 dividend. The ex-dividend date was Wednesday, August 2nd.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in Hess Midstream Partners during the second quarter valued at approximately $54,210,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Hess Midstream Partners during the second quarter worth approximately $17,335,000. Russell Investments Group Ltd. purchased a new position in shares of Hess Midstream Partners during the second quarter worth approximately $7,013,000. NBW Capital LLC purchased a new position in shares of Hess Midstream Partners during the second quarter worth approximately $6,950,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Hess Midstream Partners during the second quarter worth approximately $6,156,000.

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).

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Analyst Recommendations for Hess Midstream Partners (NASDAQ:HESM)

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