Hess Midstream LP (NYSE:HESM) Receives $35.67 Average Target Price from Brokerages

Shares of Hess Midstream LP (NYSE:HESM) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.50.

HESM has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, UBS Group increased their target price on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st.

Hess Midstream Stock Down 0.1 %

Shares of NYSE HESM opened at $34.89 on Friday. The stock has a market cap of $7.90 billion, a P/E ratio of 15.79 and a beta of 1.50. 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 has a 12-month low of $26.86 and a 12-month high of $36.84. The business’s fifty day simple moving average is $35.22 and its 200-day simple moving average is $32.90.

Hess Midstream (NYSE:HESM) last announced 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 during the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, equities analysts predict that Hess Midstream will post 2.42 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.6516 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date is Wednesday, May 1st. This represents a $2.61 annualized dividend and a dividend yield of 7.47%. Hess Midstream’s dividend payout ratio (DPR) is presently 117.65%.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Hess Midstream

Institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY increased its position in Hess Midstream by 17.7% in the 4th quarter. Miller Howard Investments Inc. NY now owns 585,462 shares of the company’s stock valued at $18,518,000 after acquiring an additional 88,055 shares during the period. Walleye Capital LLC acquired a new position in Hess Midstream in the 3rd quarter valued at about $1,910,000. Epoch Investment Partners Inc. increased its position in Hess Midstream by 172.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock valued at $28,574,000 after acquiring an additional 620,779 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Hess Midstream by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 185,356 shares of the company’s stock valued at $5,863,000 after acquiring an additional 4,372 shares during the period. Finally, Swiss National Bank increased its position in Hess Midstream by 22.6% in the 3rd quarter. Swiss National Bank now owns 147,000 shares of the company’s stock valued at $4,282,000 after acquiring an additional 27,100 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

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.