Citigroup Increases Hess Midstream Partners (HESM) Price Target to $26.00

Hess Midstream Partners (NYSE:HESM) had its price objective raised by investment analysts at Citigroup from $25.00 to $26.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 11.92% from the company’s current price.

HESM has been the subject of several other reports. Zacks Investment Research upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, June 27th. Morgan Stanley increased their price target on shares of Hess Midstream Partners from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, August 17th. TheStreet upgraded shares of Hess Midstream Partners from a “d+” rating to a “c” rating in a research note on Tuesday, September 11th. Finally, Credit Suisse Group started coverage on shares of Hess Midstream Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $29.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Hess Midstream Partners currently has a consensus rating of “Buy” and a consensus target price of $27.00.

NYSE:HESM opened at $23.23 on Tuesday. Hess Midstream Partners has a 12 month low of $18.32 and a 12 month high of $24.51. The stock has a market capitalization of $622.65 million, a PE ratio of 19.83, a P/E/G ratio of 1.38 and a beta of 1.96.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Wednesday, July 25th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Hess Midstream Partners had a net margin of 10.34% and a return on equity of 2.48%. The firm had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $159.10 million. As a group, research analysts predict that Hess Midstream Partners will post 1.27 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in HESM. Advisors Asset Management Inc. boosted its holdings in shares of Hess Midstream Partners by 83.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 29,255 shares of the company’s stock valued at $576,000 after acquiring an additional 13,315 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter valued at about $244,000. Franklin Square Holdings L.P. boosted its holdings in shares of Hess Midstream Partners by 24.3% during the 2nd quarter. Franklin Square Holdings L.P. now owns 35,675 shares of the company’s stock valued at $703,000 after acquiring an additional 6,985 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Hess Midstream Partners by 28.2% during the 2nd quarter. Renaissance Technologies LLC now owns 176,700 shares of the company’s stock valued at $3,481,000 after acquiring an additional 38,900 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings 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 valued at $367,000 after acquiring an additional 18,614 shares during the last quarter. Institutional investors and hedge funds own 51.29% of the company’s stock.

Hess Midstream Partners Company Profile

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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Analyst Recommendations for Hess Midstream Partners (NYSE:HESM)

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