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

Hess Midstream (NYSE:HESM) had its target price upped by analysts at JPMorgan Chase & Co. from $39.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.51% from the stock’s previous close.

Several other research firms also recently commented on HESM. Citigroup upped their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Raymond James boosted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Two 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.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Hess Midstream Stock Performance

Shares of Hess Midstream stock opened at $42.51 on Thursday. Hess Midstream has a 12 month low of $32.75 and a 12 month high of $44.05. The business has a 50-day moving average of $41.16 and a 200 day moving average of $38.04. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 17.07 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, sell-side analysts forecast that Hess Midstream will post 2.5 earnings per share for the current year.

Insider Activity

In other 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 value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Hess Midstream

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake 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 purchasing an additional 9,808 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Hess Midstream in the 4th quarter worth about $315,000. Zimmer Partners LP acquired a new position in Hess Midstream in the 4th quarter worth approximately $23,415,000. Zurich Insurance Group Ltd FI purchased a new stake in Hess Midstream in the 4th quarter worth about $1,255,000. Finally, WBI Investments LLC grew its position in Hess Midstream by 2.5% during the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company’s stock valued at $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.