Hess Midstream Partners LP (NYSE:HESM) Expected to Post Quarterly Sales of $193.80 Million

Equities research analysts forecast that Hess Midstream Partners LP (NYSE:HESM) will post $193.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Hess Midstream Partners’ earnings, with estimates ranging from $191.80 million to $195.80 million. Hess Midstream Partners reported sales of $169.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is scheduled to issue its next earnings results before the market opens on Wednesday, October 30th.

According to Zacks, analysts expect that Hess Midstream Partners will report full year sales of $751.15 million for the current year, with estimates ranging from $744.40 million to $757.90 million. For the next year, analysts forecast that the company will post sales of $899.55 million, with estimates ranging from $827.40 million to $971.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Hess Midstream Partners.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Hess Midstream Partners had a net margin of 10.16% and a return on equity of 2.54%. The business had revenue of $172.80 million during the quarter, compared to analyst estimates of $178.55 million.

Several brokerages have issued reports on HESM. TheStreet upgraded shares of Hess Midstream Partners from a “c” rating to a “b-” rating in a research report on Thursday, October 3rd. Zacks Investment Research cut shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday. Scotiabank initiated coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 3rd. They issued a “sector outperform” rating and a $24.00 price target for the company. Finally, Scotia Howard Weill initiated coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.86.

Large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of Hess Midstream Partners in the 1st quarter valued at $128,000. BNP Paribas Arbitrage SA boosted its stake in shares of Hess Midstream Partners by 124.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,342 shares of the company’s stock valued at $163,000 after purchasing an additional 4,621 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Hess Midstream Partners by 1,854.7% in the 2nd quarter. Bank of Montreal Can now owns 21,345 shares of the company’s stock valued at $416,000 after purchasing an additional 20,253 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Hess Midstream Partners by 64.7% in the 2nd quarter. First Trust Advisors LP now owns 23,817 shares of the company’s stock valued at $464,000 after purchasing an additional 9,356 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Hess Midstream Partners by 7.7% in the 2nd quarter. GSA Capital Partners LLP now owns 40,677 shares of the company’s stock valued at $793,000 after purchasing an additional 2,897 shares during the last quarter. 46.30% of the stock is currently owned by institutional investors.

Shares of NYSE HESM opened at $20.72 on Wednesday. Hess Midstream Partners has a 52-week low of $16.17 and a 52-week high of $23.43. The firm has a 50 day moving average price of $19.96 and a two-hundred day moving average price of $20.06. The stock has a market cap of $569.49 million, a P/E ratio of 16.31 and a beta of 1.46.

About Hess Midstream Partners

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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.

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Earnings History and Estimates for Hess Midstream Partners (NYSE:HESM)

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