Hess Midstream (NYSE:HESM) Price Target Increased to $40.00 by Analysts at UBS Group

Hess Midstream (NYSE:HESM) had its price objective boosted by UBS Group from $38.00 to $40.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company increased their target price on Hess Midstream from $36.00 to $37.00 and gave the stock an equal weight rating in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Hess Midstream has a consensus rating of Moderate Buy and a consensus target price of $36.83.

Hess Midstream Stock Performance

HESM stock opened at $37.27 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 8.67. The firm has a market cap of $8.33 billion, a P/E ratio of 16.86 and a beta of 1.52. Hess Midstream has a 12-month low of $27.57 and a 12-month high of $37.31. The stock’s 50 day simple moving average is $35.31 and its 200 day simple moving average is $34.37.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $355.60 million for the quarter, compared to analyst estimates of $354.98 million. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. As a group, equities research analysts predict that Hess Midstream will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were 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 was Wednesday, May 1st. This represents a $2.61 annualized dividend and a dividend yield of 6.99%. Hess Midstream’s dividend payout ratio is presently 118.10%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 1,500,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $34.02, for a total value of $51,030,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Hess Midstream during the first quarter valued at about $30,000. Clear Point Advisors Inc. bought a new position in Hess Midstream during the first quarter valued at about $49,000. First Horizon Advisors Inc. boosted its stake in Hess Midstream by 183.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after buying an additional 1,159 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Hess Midstream by 31.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after buying an additional 500 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Hess Midstream by 348.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after buying an additional 1,805 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Company Profile

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.