Morgan Stanley downgraded Hess Midstream Partners LP (HESM) to Underweight from its previous Equal Weight rating. The investment bank established a $38 price target for the stock.
The rating change follows a broader assessment of the midstream energy sector. Hess Midstream now carries an average rating of Underweight among analysts polled by FactSet.
Downgrades from bulge-bracket banks often prompt institutional investors to reconsider their positions. These shifts typically generate negative pressure on a company's stock price.