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

Hess Midstream (NYSE:HESM) had its target price hoisted by JPMorgan Chase & Co. from $39.00 to $44.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

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

Hess Midstream Trading Down 1.5 %

NYSE:HESM opened at $42.38 on Thursday. Hess Midstream has a 52 week low of $32.75 and a 52 week high of $44.05. The firm’s fifty day moving average is $41.13 and its 200-day moving average is $37.99. The firm has a market cap of $9.24 billion, a P/E ratio of 17.02 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities analysts expect that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.62%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 112.45%.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Hess Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP bought a new position in shares of Hess Midstream in the third quarter valued at approximately $44,088,000. Zimmer Partners LP bought a new position in Hess Midstream during the 4th quarter valued at $23,415,000. HITE Hedge Asset Management LLC bought a new position in Hess Midstream during the 4th quarter valued at $19,642,000. Deutsche Bank AG boosted its holdings in Hess Midstream by 56.3% during the 4th quarter. Deutsche Bank AG now owns 1,405,510 shares of the company’s stock worth $52,046,000 after acquiring an additional 506,430 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Hess Midstream by 11.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock worth $185,560,000 after acquiring an additional 496,464 shares in the last quarter. 98.97% of the stock is 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.