Hess Midstream (NYSE:HESM) Given New $45.00 Price Target at Raymond James

Hess Midstream (NYSE:HESM) had its target price boosted by equities research analysts at Raymond James from $42.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price points to a potential upside of 11.69% from the stock’s current price.

Hess Midstream Stock Up 0.2 %

Shares of NYSE:HESM traded up $0.10 on Tuesday, hitting $40.29. 91,187 shares of the company traded hands, compared to its average volume of 805,514. Hess Midstream has a 52 week low of $32.15 and a 52 week high of $41.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a 50 day simple moving average of $37.71 and a 200-day simple moving average of $36.71. The company has a market cap of $8.78 billion, a PE ratio of 17.07 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. Hess Midstream’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. As a group, research analysts expect that Hess Midstream will post 2.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Hess Midstream

Hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its holdings in Hess Midstream by 34.7% during the fourth quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock worth $21,755,000 after acquiring an additional 151,220 shares during the period. Leisure Capital Management grew its holdings in Hess Midstream by 5.8% in the fourth quarter. Leisure Capital Management now owns 26,148 shares of the company’s stock valued at $968,000 after purchasing an additional 1,425 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Hess Midstream in the fourth quarter valued at approximately $8,786,000. Caprock Group LLC purchased a new position in shares of Hess Midstream in the fourth quarter valued at approximately $324,000. Finally, Pacer Advisors Inc. lifted its position in Hess Midstream by 26.1% during the fourth quarter. Pacer Advisors Inc. now owns 50,654 shares of the company’s stock worth $1,876,000 after buying an additional 10,492 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

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.