Hess Midstream Partners (NYSE:HESM) Releases Earnings Results, Beats Expectations By $0.14 EPS

Hess Midstream Partners (NYSE:HESM) announced its quarterly earnings data on Monday. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14, Zacks reports. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million.

Hess Midstream Partners Trading Down 0.4%

NYSE HESM opened at $34.02 on Monday. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market capitalization of $7.15 billion, a PE ratio of 12.60 and a beta of 0.58. The firm’s fifty day simple moving average is $36.34 and its 200-day simple moving average is $38.09.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, November 6th will be paid a $0.7548 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 8.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, November 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 111.48%.

Insider Buying and Selling at Hess Midstream Partners

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Hess Midstream Partners

Several hedge funds have recently bought and sold shares of HESM. Geneos Wealth Management Inc. grew its position in shares of Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Hess Midstream Partners by 21.6% in the second quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock valued at $223,000 after purchasing an additional 1,026 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Hess Midstream Partners in the first quarter valued at about $235,000. Creative Planning grew its position in shares of Hess Midstream Partners by 10.6% in the second quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after purchasing an additional 826 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Hess Midstream Partners in the second quarter valued at about $343,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HESM has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Hess Midstream Partners in a research report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 price objective for the company. Citigroup cut their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Zacks Research downgraded Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating and set a $35.00 price objective (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. increased their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hess Midstream Partners presently has a consensus rating of “Hold” and an average price target of $40.57.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based 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 owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.