Hess Midstream (NYSE:HESM) Price Target Raised to $42.00

Hess Midstream (NYSE:HESM) had its target price lifted by Wells Fargo & Company from $40.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Raymond James boosted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $40.41 on Tuesday. Hess Midstream has a one year low of $32.15 and a one year high of $42.15. The stock has a market cap of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53. The business’s fifty day moving average price is $38.40 and its two-hundred day moving average price is $36.89. 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 posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating 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%. On average, analysts forecast that Hess Midstream will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.94%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is presently 110.04%.

Insider Activity

In other news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after purchasing an additional 579 shares during the period. Tompkins Financial Corp acquired a new stake in Hess Midstream during the 3rd quarter worth approximately $71,000. US Bancorp DE raised its holdings in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after buying an additional 510 shares during the period. KBC Group NV lifted its position in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after buying an additional 1,279 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Hess Midstream during the third quarter worth approximately $100,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

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.