Hess Midstream (NYSE:HESM) Price Target Raised to $44.00

Hess Midstream (NYSE:HESM) had its target price boosted by JPMorgan Chase & Co. from $39.00 to $44.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on HESM. Citigroup upped their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Raymond James boosted their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Hess Midstream Trading Up 0.3 %

Shares of HESM opened at $42.51 on Thursday. The stock’s fifty day simple moving average is $41.16 and its 200-day simple moving average is $38.05. The firm has a market capitalization of $9.27 billion, a PE ratio of 17.07 and a beta of 1.48. Hess Midstream has a 12-month low of $32.75 and a 12-month high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, research analysts predict that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.60%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Activity

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after acquiring an additional 579 shares during the last quarter. US Bancorp DE boosted its holdings in Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in Hess Midstream in the 3rd quarter valued at $100,000. IFP Advisors Inc lifted its position in Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after buying an additional 733 shares in the last quarter. Finally, Icon Wealth Advisors LLC boosted its stake in shares of Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after buying an additional 329 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based 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 owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.