Hess Midstream Partners LP (NYSE:HESM) Expected to Post Earnings of $0.36 Per Share

Wall Street brokerages predict that Hess Midstream Partners LP (NYSE:HESM) will announce $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Hess Midstream Partners’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.33. Hess Midstream Partners reported earnings of $0.34 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Hess Midstream Partners will report full year earnings of $1.38 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.41. For the next year, analysts anticipate that the firm will post earnings of $1.67 per share, with EPS estimates ranging from $1.59 to $1.74. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Hess Midstream Partners.

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

Several research firms recently issued reports on HESM. Zacks Investment Research upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Scotiabank began coverage on Hess Midstream Partners in a research report on Tuesday, September 3rd. They set a “sector outperform” rating and a $24.00 target price for the company. Finally, Scotia Howard Weill began coverage on Hess Midstream Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $24.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Hess Midstream Partners has a consensus rating of “Buy” and a consensus price target of $25.00.

Shares of NYSE:HESM traded up $0.15 during trading on Friday, hitting $19.54. 48,877 shares of the company’s stock were exchanged, compared to its average volume of 107,865. Hess Midstream Partners has a 52-week low of $16.17 and a 52-week high of $23.59. The business’s 50-day simple moving average is $19.09 and its 200 day simple moving average is $20.16. The company has a market cap of $526.67 million, a price-to-earnings ratio of 15.39 and a beta of 1.46.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HESM. BNP Paribas Arbitrage SA grew its holdings in Hess Midstream Partners by 53,057.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,721 shares of the company’s stock valued at $79,000 after buying an additional 3,714 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Hess Midstream Partners by 48.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 80,000 shares of the company’s stock valued at $1,696,000 after buying an additional 26,000 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Hess Midstream Partners by 20.7% during the 1st quarter. Acadian Asset Management LLC now owns 175,451 shares of the company’s stock valued at $3,719,000 after buying an additional 30,145 shares in the last quarter. Williams Jones & Associates LLC grew its holdings in Hess Midstream Partners by 41.1% during the 1st quarter. Williams Jones & Associates LLC now owns 19,900 shares of the company’s stock valued at $422,000 after buying an additional 5,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Hess Midstream Partners during the 1st quarter valued at approximately $128,000. Institutional investors and hedge funds own 46.32% 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 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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