Hess Midstream (NYSE:HESM) Price Target Raised to $38.00

Hess Midstream (NYSE:HESM) had its price target upped by JPMorgan Chase & Co. from $37.00 to $38.00 in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Separately, UBS Group lifted their price objective on shares of Hess Midstream from $35.00 to $38.00 and gave the company a buy rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $35.67.

Hess Midstream Price Performance

NYSE HESM opened at $34.84 on Tuesday. Hess Midstream has a 12 month low of $26.86 and a 12 month high of $36.84. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 16.67 and a beta of 1.50. The company’s 50 day moving average is $34.90 and its two-hundred day moving average is $32.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). The company had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, research analysts anticipate that Hess Midstream will post 2.55 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were issued a $0.6343 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.28%. Hess Midstream’s dividend payout ratio (DPR) is 121.53%.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream during the first quarter worth $30,000. Tower Research Capital LLC TRC purchased a new position in Hess Midstream during the third quarter worth $32,000. DekaBank Deutsche Girozentrale purchased a new position in Hess Midstream during the third quarter worth $41,000. Dark Forest Capital Management LP purchased a new position in Hess Midstream during the first quarter worth $53,000. Finally, Great West Life Assurance Co. Can boosted its stake in Hess Midstream by 83.9% during the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after buying an additional 804 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

About Hess Midstream

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.