Brokerages Set Hess Midstream LP (NYSE:HESM) PT at $35.67

Shares of Hess Midstream LP (NYSE:HESM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $35.67.

Several brokerages have commented on HESM. UBS Group lifted their price objective on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Hess Midstream

Hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. raised its holdings in Hess Midstream by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company's stock valued at $341,660,000 after buying an additional 3,107,528 shares during the last quarter. Invesco Ltd. raised its holdings in Hess Midstream by 9.4% during the 3rd quarter. Invesco Ltd. now owns 3,576,608 shares of the company's stock valued at $104,187,000 after buying an additional 305,972 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Hess Midstream by 2.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,431,870 shares of the company's stock valued at $108,550,000 after buying an additional 72,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hess Midstream by 38.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company's stock valued at $100,200,000 after buying an additional 887,859 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Hess Midstream by 10.6% during the 3rd quarter. Clearbridge Investments LLC now owns 2,623,885 shares of the company's stock valued at $76,434,000 after buying an additional 251,600 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Hess Midstream Stock Down 0.1 %

Shares of HESM traded down $0.03 during trading hours on Friday, reaching $34.91. 900,394 shares of the stock traded hands, compared to its average volume of 753,395. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. The stock has a fifty day simple moving average of $35.19 and a 200 day simple moving average of $32.84. Hess Midstream has a 52 week low of $26.86 and a 52 week high of $36.84. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 15.80 and a beta of 1.50.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly 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 net margin of 10.18% and a return on equity of 34.38%. The firm had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream will post 2.42 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd will be paid a $0.6516 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date of this dividend is Wednesday, May 1st. This is a boost from Hess Midstream's previous quarterly dividend of $0.63. Hess Midstream's payout ratio is currently 114.93%.

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.