Scotiabank Reiterates “$31.00” Price Target for Hess Midstream Partners (HESM)

Scotiabank set a $31.00 price target on Hess Midstream Partners (NYSE:HESM) in a report released on Monday. The firm currently has a buy rating on the stock.

HESM has been the subject of a number of other reports. BidaskClub raised shares of Hess Midstream Partners from a strong sell rating to a sell rating in a report on Tuesday, November 7th. Citigroup raised shares of Hess Midstream Partners from a neutral rating to a buy rating and reduced their target price for the company from $28.00 to $25.00 in a report on Friday, August 11th. Zacks Investment Research cut shares of Hess Midstream Partners from a hold rating to a sell rating in a report on Wednesday, September 27th. Finally, Morgan Stanley raised shares of Hess Midstream Partners from an equal weight rating to an overweight rating and upped their target price for the company from $25.00 to $26.00 in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Hess Midstream Partners has an average rating of Buy and an average price target of $27.83.

Hess Midstream Partners (HESM) opened at $20.33 on Monday. Hess Midstream Partners has a 12 month low of $18.32 and a 12 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Hess Midstream Partners had a net margin of 28.19% and a return on equity of 6.64%. The company had revenue of $146.70 million during the quarter, compared to the consensus estimate of $116.27 million. equities research analysts expect that Hess Midstream Partners will post 1.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Friday, November 3rd were issued a $0.3107 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.11%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Hess Midstream Partners during the second quarter worth about $119,000. JPMorgan Chase & Co. raised its holdings in Hess Midstream Partners by 98.7% during the third quarter. JPMorgan Chase & Co. now owns 9,618 shares of the company’s stock worth $209,000 after purchasing an additional 4,778 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Hess Midstream Partners during the third quarter worth about $292,000. CNH Partners LLC purchased a new position in Hess Midstream Partners during the second quarter worth about $346,000. Finally, Sei Investments Co. purchased a new position in Hess Midstream Partners during the second quarter worth about $373,000. 57.16% of the stock is owned by hedge funds and other institutional investors.

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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 (NYSE:HESM)

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