Hess Midstream (NYSE:HESM) Price Target Raised to $45.00

Hess Midstream (NYSE:HESM) had its target price raised by Raymond James from $42.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $40.97 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market cap of $8.93 billion, a PE ratio of 17.36 and a beta of 1.52. The company’s fifty day moving average is $37.81 and its 200 day moving average is $36.73. Hess Midstream has a 52 week low of $32.15 and a 52 week high of $41.61.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Research analysts anticipate that Hess Midstream will post 2.41 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is 116.10%.

Insider Transactions at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Hess Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Hess Midstream during the fourth quarter valued at approximately $338,000. Stephens Inc. AR increased its position in Hess Midstream by 11.8% during the 4th quarter. Stephens Inc. AR now owns 103,169 shares of the company’s stock valued at $3,820,000 after purchasing an additional 10,888 shares during the period. Entropy Technologies LP raised its holdings in Hess Midstream by 3.9% in the 4th quarter. Entropy Technologies LP now owns 29,797 shares of the company’s stock worth $1,103,000 after purchasing an additional 1,106 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Hess Midstream by 12.4% in the 4th quarter. Empowered Funds LLC now owns 81,171 shares of the company’s stock worth $3,006,000 after purchasing an additional 8,972 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock valued at $21,755,000 after purchasing an additional 151,220 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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.