Hess Midstream Partners LP (HESM) Expected to Post Quarterly Sales of $169.15 Million

Analysts expect Hess Midstream Partners LP (NYSE:HESM) to post sales of $169.15 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hess Midstream Partners’ earnings, with estimates ranging from $167.10 million to $171.20 million. Hess Midstream Partners posted sales of $146.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The firm is expected to announce its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Hess Midstream Partners will report full year sales of $660.02 million for the current financial year, with estimates ranging from $655.07 million to $669.00 million. For the next year, analysts anticipate that the company will post sales of $743.94 million per share, with estimates ranging from $682.20 million to $806.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Hess Midstream Partners.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Hess Midstream Partners had a return on equity of 2.48% and a net margin of 10.34%. The company had revenue of $164.70 million during the quarter, compared to analyst estimates of $159.10 million.

A number of equities analysts recently commented on HESM shares. Zacks Investment Research raised 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 raised their price objective on Hess Midstream Partners from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. Finally, TheStreet raised Hess Midstream Partners from a “d+” rating to a “c” rating in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Hess Midstream Partners presently has a consensus rating of “Hold” and an average target price of $26.75.

Hess Midstream Partners stock traded down $0.87 during midday trading on Friday, reaching $22.88. 45,983 shares of the stock traded hands, compared to its average volume of 48,441. Hess Midstream Partners has a 12 month low of $18.32 and a 12 month high of $24.51. The firm has a market cap of $631.93 million, a PE ratio of 20.13, a PEG ratio of 1.40 and a beta of 1.99.

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $244,000. Avalon Advisors LLC bought a new stake in shares of Hess Midstream Partners in the 1st quarter valued at approximately $268,000. BlackRock Inc. lifted its stake in shares of Hess Midstream Partners by 116,337.5% in the 2nd quarter. BlackRock Inc. now owns 18,630 shares of the company’s stock valued at $367,000 after purchasing an additional 18,614 shares during the last quarter. Penbrook Management LLC bought a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $404,000. Finally, ELCO Management Co. LLC bought a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $422,000. 51.29% of the stock is owned by institutional investors and hedge funds.

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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