Hess Midstream (NYSE:HESM) Given New $37.00 Price Target at Wells Fargo & Company

Hess Midstream (NYSE:HESM) had its price target increased by Wells Fargo & Company from $36.00 to $37.00 in a report released on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on HESM. JPMorgan Chase & Co. upped their price objective on Hess Midstream from $37.00 to $38.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. UBS Group upped their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a buy rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Hess Midstream has a consensus rating of Moderate Buy and an average target price of $36.50.

Hess Midstream Stock Down 0.1 %

HESM stock opened at $34.89 on Monday. The stock has a market capitalization of $7.90 billion, a PE ratio of 15.79 and a beta of 1.50. The company has a fifty day moving average of $35.22 and a 200-day moving average of $32.90. 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 one year low of $26.86 and a one year high of $36.84.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data 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 net margin of 10.18% and a return on equity of 34.38%. The firm had revenue of $356.50 million during the quarter, compared to analyst estimates of $358.86 million. During the same quarter in the previous year, the business earned $0.49 EPS. Hess Midstream’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts expect that Hess Midstream will post 2.42 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be given a $0.6516 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.47%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio (DPR) is currently 114.93%.

Insider Transactions at Hess Midstream

In other Hess Midstream 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Hess Midstream

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Hess Midstream in the first quarter worth $30,000. DekaBank Deutsche Girozentrale purchased a new position in Hess Midstream in the 3rd quarter valued at about $41,000. First Horizon Advisors Inc. boosted its stake in shares of Hess Midstream by 183.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after purchasing an additional 1,159 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Hess Midstream by 348.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock worth $73,000 after purchasing an additional 1,805 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Hess Midstream by 23.7% during the third quarter. IFP Advisors Inc now owns 2,935 shares of the company’s stock worth $85,000 after buying an additional 562 shares in the last quarter. Institutional investors and hedge funds 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.