Hess Midstream (NYSE:HESM) PT Raised to $38.00 at JPMorgan Chase & Co.

Hess Midstream (NYSE:HESM) had its price target lifted by research analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.38% from the company’s current price.

Separately, UBS Group increased 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Hess Midstream presently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Hess Midstream Stock Up 1.2 %

HESM stock opened at $34.74 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81. Hess Midstream has a fifty-two week low of $26.86 and a fifty-two week high of $36.84. The firm’s 50-day simple moving average is $34.85 and its 200 day simple moving average is $32.51. The stock has a market cap of $7.86 billion, a PE ratio of 16.62 and a beta of 1.50.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The firm had revenue of $356.50 million during the quarter, compared to analyst estimates of $358.86 million. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts predict that Hess Midstream will post 2.55 EPS for the current year.

Insider Activity at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Hess Midstream

Several large investors have recently made changes to their positions in HESM. Tower Research Capital LLC TRC bought a new position in shares of Hess Midstream during the 3rd quarter valued at about $32,000. DekaBank Deutsche Girozentrale bought a new position in shares of Hess Midstream during the 3rd quarter valued at about $41,000. Dark Forest Capital Management LP acquired a new position in shares of Hess Midstream in the first quarter worth about $53,000. Great West Life Assurance Co. Can boosted its holdings in shares of Hess Midstream by 83.9% in the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after buying an additional 804 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Hess Midstream by 183.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after buying an additional 1,159 shares during the period. Institutional investors own 92.41% 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.