JPMorgan Chase & Co. Increases Hess Midstream (NYSE:HESM) Price Target to $38.00

Hess Midstream (NYSE:HESM) had its target price lifted by JPMorgan Chase & Co. from $37.00 to $38.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Separately, UBS Group lifted their target price on Hess Midstream from $35.00 to $38.00 and gave the company a buy rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Hess Midstream presently has an average rating of Moderate Buy and a consensus target price of $35.67.

Hess Midstream Stock Up 0.3 %

Shares of NYSE:HESM opened at $34.84 on Tuesday. The business has a 50-day moving average price of $34.90 and a 200 day moving average price of $32.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.67 and a beta of 1.50. Hess Midstream has a 12-month low of $26.86 and a 12-month high of $36.84.

Hess Midstream (NYSE:HESM) last released its earnings results 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 firm had revenue of $356.50 million during the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Sell-side analysts expect that Hess Midstream will post 2.55 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were paid a $0.6343 dividend. This represents a $2.54 annualized dividend and a dividend yield of 7.28%. The ex-dividend date was Wednesday, February 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio (DPR) is presently 121.53%.

Insider Activity

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of Hess Midstream stock in a transaction dated Thursday, February 8th. The stock was 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 available at this hyperlink.

Hedge Funds Weigh In On Hess Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. lifted its stake in Hess Midstream by 43.0% during the first quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after purchasing an additional 2,423 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Hess Midstream during the first quarter worth approximately $244,000. Cetera Advisor Networks LLC purchased a new stake in Hess Midstream during the first quarter worth approximately $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Hess Midstream during the first quarter worth approximately $1,556,000. Finally, BlackRock Inc. lifted its stake in Hess Midstream by 220.0% during the first quarter. BlackRock Inc. now owns 391,128 shares of the company’s stock worth $11,733,000 after purchasing an additional 268,914 shares during the last quarter. Hedge funds and other institutional investors 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.