Hess Midstream LP (NYSE:HESM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Hess Midstream LP (NYSE:HESM) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $36.50.

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

Hess Midstream Stock Performance

NYSE:HESM opened at $33.48 on Friday. The company has a fifty day moving average of $35.23 and a 200-day moving average of $32.93. The firm has a market capitalization of $7.58 billion, a P/E ratio of 15.10 and a beta of 1.50. 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 has a twelve month low of $26.86 and a twelve month high of $36.84.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share 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 the consensus estimate of $358.86 million. Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, sell-side analysts anticipate that Hess Midstream will post 2.44 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be paid a $0.6516 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $2.61 annualized dividend and a dividend yield of 7.78%. Hess Midstream’s dividend payout ratio is presently 114.93%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Hess Midstream

Several institutional investors have recently made changes to their positions in HESM. Alps Advisors Inc. grew its stake in shares of Hess Midstream by 36.0% in the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after acquiring an additional 3,107,528 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Hess Midstream by 190.8% in the 4th quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock worth $73,886,000 after buying an additional 1,532,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hess Midstream by 38.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after buying an additional 887,859 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Hess Midstream by 82.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,792,886 shares of the company’s stock worth $56,709,000 after buying an additional 811,976 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Hess Midstream in the 4th quarter worth about $14,133,000. Institutional investors 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.