Hess Midstream (NYSE:HESM) Price Target Increased to $38.00 by Analysts at JPMorgan Chase & Co.

Hess Midstream (NYSE:HESM) had its price objective upped by JPMorgan Chase & Co. from $37.00 to $38.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, UBS Group boosted their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the company a buy rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $35.67.

Hess Midstream Price Performance

Hess Midstream stock opened at $34.33 on Tuesday. The company’s 50 day simple moving average is $34.81 and its 200-day simple moving average is $32.50. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 16.43 and a beta of 1.50. Hess Midstream has a 1 year low of $26.86 and a 1 year high of $36.84. 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 (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. Hess Midstream’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. As a group, equities research analysts expect that Hess Midstream will post 2.55 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.6343 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62. This represents a $2.54 annualized dividend and a yield of 7.39%. The ex-dividend date of this dividend was Wednesday, February 7th. Hess Midstream’s dividend payout ratio is presently 121.53%.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Hess Midstream

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in shares of Hess Midstream in the 3rd quarter valued at approximately $32,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Hess Midstream in the 3rd quarter valued at approximately $41,000. Dark Forest Capital Management LP purchased a new stake in shares of Hess Midstream in the 1st quarter valued at approximately $53,000. Great West Life Assurance Co. Can increased its position in shares of Hess Midstream by 83.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock valued at $56,000 after purchasing an additional 804 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Hess Midstream by 183.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after purchasing an additional 1,159 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

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.