Brokerages Set Hess Midstream LP (NYSE:HESM) PT at $36.50

Hess Midstream LP (NYSE:HESMGet Free Report) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.50.

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company raised their target price on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, UBS Group raised their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Check Out Our Latest Report on HESM

Hess Midstream Stock Up 1.2 %

Shares of Hess Midstream stock opened at $35.89 on Wednesday. The firm has a market capitalization of $8.02 billion, a PE ratio of 16.24 and a beta of 1.51. Hess Midstream has a 12-month low of $26.86 and a 12-month high of $36.84. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 8.67. The stock’s fifty day moving average is $35.33 and its 200-day moving average is $33.63.

Hess Midstream (NYSE:HESMGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. The company had revenue of $355.60 million for the quarter, compared to analyst estimates of $354.98 million. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. Equities analysts anticipate that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Thursday, May 2nd were given a dividend of $0.6516 per share. The ex-dividend date was Wednesday, May 1st. This represents a $2.61 dividend on an annualized basis and a yield of 7.26%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio is currently 118.10%.

Institutional Investors Weigh In On Hess Midstream

Large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Hess Midstream in the 4th quarter valued at $711,000. Miller Howard Investments Inc. NY grew its holdings in Hess Midstream by 17.7% during the 4th quarter. Miller Howard Investments Inc. NY now owns 585,462 shares of the company’s stock worth $18,518,000 after acquiring an additional 88,055 shares during the period. Walleye Capital LLC acquired a new stake in Hess Midstream during the 3rd quarter worth about $1,910,000. Epoch Investment Partners Inc. grew its stake in shares of Hess Midstream by 172.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock valued at $28,574,000 after buying an additional 620,779 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Hess Midstream by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 185,356 shares of the company’s stock valued at $5,863,000 after buying an additional 4,372 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Hess Midstream Company Profile

(Get Free Report

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.

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Analyst Recommendations for Hess Midstream (NYSE:HESM)

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