Wells Fargo & Company Raises Hess Midstream (NYSE:HESM) Price Target to $37.00

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

HESM has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on Hess Midstream from $37.00 to $38.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. UBS Group upped their price objective on Hess Midstream from $35.00 to $38.00 and gave the company a buy rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $36.50.

Hess Midstream Trading Up 0.1 %

Shares of NYSE:HESM opened at $33.48 on Monday. Hess Midstream has a 52-week low of $26.86 and a 52-week high of $36.84. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. The company 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 50-day simple moving average of $35.23 and a 200 day simple moving average of $32.93.

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

Hess Midstream Increases Dividend

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

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Hess Midstream

Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Hess Midstream by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after buying an additional 3,107,528 shares during the period. Invesco Ltd. lifted 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 worth $104,187,000 after buying an additional 305,972 shares during the period. Goldman Sachs Group Inc. lifted 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 worth $108,550,000 after buying an additional 72,548 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $100,200,000 after buying an additional 887,859 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Hess Midstream by 10.6% in the third 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 period. Institutional investors and hedge funds own 92.41% 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.