Raymond James Forecasts Strong Price Appreciation for Hess Midstream (NYSE:HESM) Stock

Hess Midstream (NYSE:HESM) had its price target increased by analysts at Raymond James from $42.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 7.92% from the company’s previous close.

Hess Midstream Trading Up 2.0 %

Shares of HESM stock opened at $41.70 on Tuesday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream has a fifty-two week low of $32.15 and a fifty-two week high of $42.15. The company has a market cap of $9.09 billion, a PE ratio of 17.67 and a beta of 1.52. The stock’s fifty day moving average price is $37.92 and its two-hundred day moving average price is $36.77.

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

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Tompkins Financial Corp acquired a new position in Hess Midstream in the 3rd quarter valued at approximately $71,000. KBC Group NV grew its stake in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in Hess Midstream in the third quarter valued at $100,000. Icon Wealth Advisors LLC lifted its holdings in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after buying an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after buying 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.