Hess Midstream (NYSE:HESM) Price Target Raised to $45.00

Hess Midstream (NYSE:HESM) had its target price upped by Raymond James from $42.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Hess Midstream Trading Down 0.5 %

Shares of Hess Midstream stock opened at $41.50 on Tuesday. Hess Midstream has a 12-month low of $32.15 and a 12-month high of $42.15. The stock has a market capitalization of $9.05 billion, a P/E ratio of 17.59 and a beta of 1.52. The company has a 50-day simple moving average of $38.01 and a 200 day simple moving average of $36.80. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. Research analysts expect that Hess Midstream will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a dividend yield of 6.76%. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is presently 116.10%.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value 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 document filed with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Hess Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Tompkins Financial Corp bought a new position in Hess Midstream in the third quarter valued at about $71,000. KBC Group NV grew its position in shares of Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the period. Millburn Ridgefield Corp bought a new stake in shares of Hess Midstream during the third quarter worth approximately $100,000. Icon Wealth Advisors LLC lifted its holdings in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after buying an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors own 98.97% 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.