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

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

Separately, UBS Group boosted their target price on shares of 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. According to data from MarketBeat, Hess Midstream currently has an average rating of Moderate Buy and a consensus target price of $35.67.

Hess Midstream Trading Up 1.4 %

NYSE HESM opened at $35.34 on Tuesday. 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 stock has a 50 day moving average of $34.96 and a 200-day moving average of $32.58. Hess Midstream has a 12 month low of $26.86 and a 12 month high of $36.84. The company has a market cap of $8.00 billion, a PE ratio of 16.91 and a beta of 1.50.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream will post 2.54 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were issued a $0.6343 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 annualized dividend and a dividend yield of 7.18%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio is currently 121.53%.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction dated 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 SEC, which can be accessed through the SEC website.

Institutional Trading of Hess Midstream

Hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. grew its position in shares of Hess Midstream by 6.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock valued at $174,000 after purchasing an additional 358 shares in the last quarter. Legal & General Group Plc increased its position in shares of Hess Midstream by 3.2% during the fourth quarter. Legal & General Group Plc now owns 11,672 shares of the company’s stock valued at $349,000 after buying an additional 360 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Hess Midstream by 1.4% in the first quarter. California State Teachers Retirement System now owns 28,844 shares of the company’s stock worth $865,000 after buying an additional 411 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Hess Midstream by 5.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock valued at $283,000 after acquiring an additional 484 shares during the period. Finally, Guggenheim Capital LLC grew its stake in Hess Midstream by 5.6% during the first quarter. Guggenheim Capital LLC now owns 9,602 shares of the company’s stock valued at $288,000 after acquiring an additional 510 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

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.