Hess Midstream (NYSE:HESM) Price Target Raised to $42.00

Hess Midstream (NYSE:HESM) had its price objective upped by Wells Fargo & Company from $40.00 to $42.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th.

Hess Midstream Stock Performance

Hess Midstream stock opened at $40.41 on Tuesday. The firm has a market capitalization of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53. Hess Midstream has a one year low of $32.15 and a one year high of $42.15. The stock’s 50 day moving average price is $38.40 and its 200 day moving average price is $36.89. 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 (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, sell-side analysts expect that Hess Midstream will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is 110.04%.

Insider Activity at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Hess Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC acquired a new position in Hess Midstream in the second quarter worth $330,000. Sanctuary Advisors LLC acquired a new position in shares of Hess Midstream in the 2nd quarter valued at about $426,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Hess Midstream in the 2nd quarter valued at about $1,691,000. Kesler Norman & Wride LLC bought a new stake in shares of Hess Midstream during the 3rd quarter valued at about $511,000. Finally, Artemis Investment Management LLP raised its stake in Hess Midstream by 16.9% during the third quarter. Artemis Investment Management LLP now owns 760,682 shares of the company’s stock worth $26,829,000 after acquiring an additional 109,916 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

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.