Hess Midstream (NYSE:HESM) Price Target Raised to $38.00 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 research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

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

Hess Midstream Stock Performance

Shares of HESM stock opened at $35.34 on Tuesday. The firm has a market capitalization of $8.00 billion, a PE ratio of 16.91 and a beta of 1.50. The company has a 50 day moving average price of $34.96 and a 200-day moving average price of $32.58. Hess Midstream has a 52 week low of $26.86 and a 52 week high of $36.84. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. As a group, equities research analysts expect that Hess Midstream will post 2.54 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were given a $0.6343 dividend. This represents a $2.54 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend was Wednesday, February 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s payout ratio is currently 121.53%.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Trading of Hess Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its position in shares of Hess Midstream by 18.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 68,239 shares of the company’s stock worth $2,356,000 after buying an additional 10,759 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hess Midstream during the first quarter worth $30,000. Artemis Investment Management LLP grew its holdings in shares of Hess Midstream by 220.0% during the first quarter. Artemis Investment Management LLP now owns 585,961 shares of the company’s stock valued at $21,160,000 after buying an additional 402,875 shares during the last quarter. Stokes Capital Advisors LLC raised its stake in shares of Hess Midstream by 4.4% in the first quarter. Stokes Capital Advisors LLC now owns 138,341 shares of the company’s stock worth $4,998,000 after purchasing an additional 5,871 shares during the last quarter. Finally, CFM Wealth Partners LLC raised its stake in shares of Hess Midstream by 34.7% in the first quarter. CFM Wealth Partners LLC now owns 35,262 shares of the company’s stock worth $1,274,000 after purchasing an additional 9,093 shares during the last quarter. 92.41% of the stock is currently owned by 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.