JPMorgan Chase & Co. Issues Positive Forecast for Hess Midstream (NYSE:HESM) Stock Price

Hess Midstream (NYSE:HESM) had its price objective upped by JPMorgan Chase & Co. from $39.00 to $44.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Raymond James raised their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup raised their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $42.38 on Thursday. The company has a 50-day simple moving average of $41.13 and a two-hundred day simple moving average of $37.99. Hess Midstream has a twelve month low of $32.75 and a twelve month high of $44.05. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 17.02 and a beta of 1.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Analysts forecast that Hess Midstream will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.62%. Hess Midstream’s payout ratio is presently 112.45%.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Hess Midstream

Several large investors have recently bought and sold shares of the company. apricus wealth LLC grew its holdings in shares of Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock worth $685,000 after purchasing an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC increased its position in Hess Midstream by 2.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock valued at $483,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Hess Midstream by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock valued at $439,000 after acquiring an additional 298 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in shares of Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Hess Midstream by 5.7% in the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company’s stock worth $294,000 after purchasing an additional 429 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

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.