Hess Midstream (NYSE:HESM) PT Raised to $38.00

Hess Midstream (NYSE:HESM - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 10.69% from the stock's current price.

Separately, UBS Group increased their price target on Hess Midstream from $35.00 to $38.00 and gave the company a "buy" rating in a 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.67.

Hess Midstream Price Performance

Shares of NYSE:HESM traded down $0.33 during midday trading on Tuesday, hitting $34.33. The company had a trading volume of 701,566 shares, compared to its average volume of 904,046. Hess Midstream has a twelve month low of $26.86 and a twelve month high of $36.84. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 16.43 and a beta of 1.50. The business's 50-day simple moving average is $34.81 and its 200-day simple moving average is $32.50.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $358.86 million. During the same period in the prior year, the business posted $0.49 EPS. Hess Midstream's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts predict that Hess Midstream will post 2.55 earnings per share for the current year.

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 on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HESM. Advisor Group Holdings Inc. boosted its position in shares of Hess Midstream by 43.0% during the first quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company's stock worth $241,000 after buying an additional 2,423 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Hess Midstream during the first quarter worth about $244,000. Cetera Advisor Networks LLC acquired a new stake in shares of Hess Midstream during the first quarter worth about $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Hess Midstream during the first quarter worth about $1,556,000. Finally, BlackRock Inc. increased its position in shares of Hess Midstream by 220.0% during the first quarter. BlackRock Inc. now owns 391,128 shares of the company's stock worth $11,733,000 after purchasing an additional 268,914 shares in the last quarter. 92.41% of the stock is currently 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.