Hess Midstream LP (NYSE:HESM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Hess Midstream LP (NYSE:HESM) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $35.67.

Several research firms have weighed in on HESM. UBS Group lifted their target price on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Hess Midstream

Institutional investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY increased its holdings in shares of Hess Midstream by 17.7% in the 4th quarter. Miller Howard Investments Inc. NY now owns 585,462 shares of the company’s stock valued at $18,518,000 after acquiring an additional 88,055 shares during the last quarter. Walleye Capital LLC acquired a new stake in Hess Midstream during the third quarter worth approximately $1,910,000. Epoch Investment Partners Inc. raised its holdings in Hess Midstream by 172.4% during the third quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock worth $28,574,000 after purchasing an additional 620,779 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Hess Midstream by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 185,356 shares of the company’s stock worth $5,863,000 after buying an additional 4,372 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Hess Midstream by 22.6% in the 3rd quarter. Swiss National Bank now owns 147,000 shares of the company’s stock valued at $4,282,000 after buying an additional 27,100 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Price Performance

Hess Midstream stock opened at $34.86 on Friday. The company’s 50 day simple moving average is $35.19 and its 200-day simple moving average is $32.82. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. Hess Midstream has a 1 year low of $26.86 and a 1 year high of $36.84. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 16.68 and a beta of 1.50.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS 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 for the quarter, compared to analyst estimates of $358.86 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Hess Midstream will post 2.42 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.6516 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.48%. Hess Midstream’s payout ratio is currently 121.53%.

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.