UBS Group Raises Hess Midstream (NYSE:HESM) Price Target to $40.00

Hess Midstream (NYSE:HESM) had its price objective hoisted by analysts at UBS Group from $38.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 8.89% from the stock’s current price.

A number of other research firms have also recently issued reports on HESM. Wells Fargo & Company raised their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.83.

Hess Midstream Trading Down 0.1 %

NYSE:HESM opened at $36.74 on Wednesday. The company has a debt-to-equity ratio of 8.67, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50-day simple moving average is $35.28 and its 200-day simple moving average is $34.35. Hess Midstream has a fifty-two week low of $27.57 and a fifty-two week high of $37.16. The stock has a market capitalization of $8.21 billion, a PE ratio of 16.62 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last announced its earnings results on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $355.60 million during the quarter, compared to analyst estimates of $354.98 million. Hess Midstream had a net margin of 10.18% and a return on equity of 35.08%. Sell-side analysts expect that Hess Midstream will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 1,500,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $34.02, for a total transaction of $51,030,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Hess Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Hess Midstream during the 1st quarter worth about $30,000. Clear Point Advisors Inc. purchased a new stake in shares of Hess Midstream in the first quarter worth about $49,000. First Horizon Advisors Inc. boosted its position in shares of Hess Midstream by 183.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after acquiring an additional 1,159 shares during the period. Parkside Financial Bank & Trust grew its stake in Hess Midstream by 348.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after acquiring an additional 1,805 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other 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.