Hess Midstream (NYSE:HESM) Price Target Raised to $44.00 at JPMorgan Chase & Co.

Hess Midstream (NYSE:HESM) had its price target lifted by JPMorgan Chase & Co. from $39.00 to $44.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.58% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Raymond James increased their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Hess Midstream Stock Performance

Shares of Hess Midstream stock traded down $0.15 on Thursday, hitting $42.90. 195,611 shares of the company’s stock were exchanged, compared to its average volume of 935,282. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $9.35 billion, a PE ratio of 17.22 and a beta of 1.48. Hess Midstream has a 1 year low of $32.75 and a 1 year high of $44.05. The company has a 50-day simple moving average of $41.09 and a 200-day simple moving average of $37.96.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, equities analysts anticipate that Hess Midstream will post 2.5 EPS for the current year.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Hess Midstream

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of Hess Midstream by 12.3% during the fourth quarter. California State Teachers Retirement System now owns 89,624 shares of the company’s stock valued at $3,319,000 after buying an additional 9,808 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in Hess Midstream during the fourth quarter valued at approximately $315,000. Zimmer Partners LP acquired a new stake in Hess Midstream in the fourth quarter valued at approximately $23,415,000. Zurich Insurance Group Ltd FI purchased a new position in Hess Midstream in the fourth quarter worth $1,255,000. Finally, WBI Investments LLC boosted its position in shares of Hess Midstream by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company’s stock worth $678,000 after purchasing an additional 446 shares in the last quarter. 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.