Scotiabank Keeps a Buy Rating on Hess Midstream Partners Lp

By Carrie Williams

Scotiabank analyst Richard Roberts maintained a Buy rating on Hess Midstream Partners Lp (NYSE: HESM) today and set a price target of $31. The company’s shares opened today at $25.21.

According to TipRanks.com, Roberts is a 1-star analyst with an average return of -1.1% and a 26.2% success rate. Roberts covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Antero Midstream Partners, and Holly Energy Partners LP.

Hess Midstream Partners Lp has an analyst consensus of Moderate Buy, with a price target consensus of $30.50.

Based on Hess Midstream Partners Lp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and quarterly net profit of $0. In comparison, last year the company earned revenue of $273 million and had a net profit of $89.1 million.

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Hess Midstream Partners LP owns, operates, develops, and acquires a set of midstream assets. It provides its services to Hess Corporation and to third-party crude oil and natural gas producers. The firm engages in natural gas and fractionating natural gas liquids (NGLs); gathering, terminaling, loading, and transporting crude oil and NGLs; and storing and terminaling propane. It operates through the following segments: Gathering, Processing and Storage, and Terminaling and Export. The company was founded on January 17, 2014 and is headquartered in Houston, TX.