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 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. “

Several other research analysts also recently commented on HESM. Wells Fargo & Co upgraded Hess Midstream Partners from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $26.00 in a report on Thursday. BidaskClub upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Scotiabank set a $31.00 price objective on Hess Midstream Partners and gave the stock a “buy” rating in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Hess Midstream Partners has a consensus rating of “Buy” and an average target price of $27.71.

Hess Midstream Partners (NYSE:HESM) opened at $21.35 on Friday. Hess Midstream Partners has a twelve month low of $18.32 and a twelve month high of $26.78.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The firm 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 anticipate that Hess Midstream Partners will post 1.01 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Hess Midstream Partners by 98.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,618 shares of the company’s stock valued at $209,000 after purchasing an additional 4,778 shares during the period. AMP Capital Investors Ltd increased its holdings in Hess Midstream Partners by 33.8% during the 3rd quarter. AMP Capital Investors Ltd now owns 27,465 shares of the company’s stock valued at $603,000 after purchasing an additional 6,932 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Hess Midstream Partners by 2.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 291,164 shares of the company’s stock valued at $6,397,000 after purchasing an additional 7,548 shares during the period. GSA Capital Partners LLP bought a new stake in Hess Midstream Partners during the 3rd quarter valued at approximately $292,000. Finally, CNH Partners LLC bought a new stake in Hess Midstream Partners during the 2nd quarter valued at approximately $346,000. Institutional investors own 57.16% of the company’s stock.

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Hess Midstream Partners Company Profile

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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