Hess Midstream Partners (HESM) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Hess Midstream Partners (NYSE:HESM) from a sell rating to a hold rating in a research note issued to investors on Thursday.
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. “
A number of other brokerages have also commented on HESM. JPMorgan Chase & Co. lowered Hess Midstream Partners from an overweight rating to a neutral rating and set a $27.00 target price on the stock. in a research report on Tuesday, March 12th. Credit Suisse Group set a $27.00 target price on Hess Midstream Partners and gave the company a buy rating in a research report on Friday, December 14th. Finally, Morgan Stanley dropped their target price on Hess Midstream Partners from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Friday, November 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hess Midstream Partners presently has an average rating of Buy and an average target price of $25.60.
Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Wednesday, January 30th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The firm had revenue of $171.20 million during the quarter, compared to analysts’ expectations of $171.85 million. Hess Midstream Partners had a net margin of 10.54% and a return on equity of 2.63%. As a group, equities analysts expect that Hess Midstream Partners will post 1.42 EPS for the current year.
In related news, COO John A. Gatling purchased 12,000 shares of the firm’s stock in a transaction on Wednesday, December 26th. The stock was bought at an average cost of $16.90 per share, with a total value of $202,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan C. Stein sold 1,381 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $22.63, for a total value of $31,252.03. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in HESM. BlackRock Inc. raised its stake in shares of Hess Midstream Partners by 116,337.5% during the 2nd quarter. BlackRock Inc. now owns 18,630 shares of the company’s stock worth $367,000 after buying an additional 18,614 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Hess Midstream Partners by 66.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 164,559 shares of the company’s stock worth $3,754,000 after buying an additional 65,583 shares during the period. Wells Fargo & Company MN raised 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 buying an additional 8,283 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in shares of Hess Midstream Partners by 16.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 713,594 shares of the company’s stock worth $16,271,000 after buying an additional 102,807 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised 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 buying an additional 2,730 shares during the period. 49.55% 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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