Hess Midstream LP (NYSE:HESM) Receives $35.50 Consensus PT from Brokerages

Hess Midstream LP (NYSE:HESM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.50.

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, March 1st. JPMorgan Chase & Co. cut shares of Hess Midstream from an "overweight" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Friday, March 8th.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HESM. Advisor Group Holdings Inc. grew its position in Hess Midstream by 6.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock worth $174,000 after acquiring an additional 358 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Hess Midstream by 3.2% in the 4th quarter. Legal & General Group Plc now owns 11,672 shares of the company's stock valued at $349,000 after acquiring an additional 360 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Hess Midstream by 1.4% in the first quarter. California State Teachers Retirement System now owns 28,844 shares of the company's stock valued at $865,000 after buying an additional 411 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Hess Midstream by 5.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company's stock worth $283,000 after buying an additional 484 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in Hess Midstream by 5.6% during the first quarter. Guggenheim Capital LLC now owns 9,602 shares of the company's stock worth $288,000 after purchasing an additional 510 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Up 0.4 %

Shares of NYSE:HESM traded up $0.13 during midday trading on Tuesday, reaching $36.08. The company had a trading volume of 599,094 shares, compared to its average volume of 930,128. Hess Midstream has a 1-year low of $26.86 and a 1-year high of $36.40. The stock has a market cap of $8.17 billion, a PE ratio of 17.26 and a beta of 1.50. The business's 50 day moving average price is $34.47 and its 200 day moving average price is $32.09. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The business had revenue of $356.50 million during the quarter, compared to analysts' expectations of $358.86 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Hess Midstream's quarterly revenue was up 13.3% on a year-over-year basis. Research analysts forecast that Hess Midstream will post 2.55 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Thursday, February 8th were issued a dividend of $0.6343 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.62. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 dividend on an annualized basis and a yield of 7.03%. Hess Midstream's payout ratio is presently 121.53%.

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.