Hess Midstream (NYSE:HESM) PT Raised to $37.00 at Wells Fargo & Company

Hess Midstream (NYSE:HESM) had its price target boosted by Wells Fargo & Company from $36.00 to $37.00 in a research report released on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on HESM. UBS Group lifted their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the company a buy rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Hess Midstream currently has a consensus rating of Moderate Buy and an average target price of $36.50.

Hess Midstream Price Performance

HESM stock opened at $33.48 on Monday. The firm has a 50 day moving average of $35.23 and a 200-day moving average of $32.93. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. Hess Midstream has a 12 month low of $26.86 and a 12 month high of $36.84. The firm has a market capitalization of $7.58 billion, a P/E ratio of 15.10 and a beta of 1.50.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The company had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that Hess Midstream will post 2.44 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed 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 boost 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 dividend on an annualized basis and a dividend yield of 7.78%. Hess Midstream’s dividend payout ratio is 114.93%.

Insider Activity

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Hess Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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.

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.