Hess Midstream LP (NYSE:HESM) Receives Average Rating of “Moderate Buy” from Analysts

Hess Midstream LP (NYSE:HESM) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.50.

HESM has been the topic of several research reports. UBS Group upped their price objective on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their price objective on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price objective on Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday.

Hess Midstream Trading Up 0.1 %

Shares of HESM opened at $33.48 on Friday. The company has a market capitalization of $7.58 billion, a P/E ratio of 15.10 and a beta of 1.50. Hess Midstream has a one year low of $26.86 and a one 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. The stock has a 50-day moving average price of $35.23 and a 200 day moving average price of $32.93.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts forecast that Hess Midstream will post 2.44 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.6516 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.78%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, May 1st. Hess Midstream’s dividend payout ratio is presently 114.93%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Hess Midstream

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Hess Midstream in the 1st quarter valued at approximately $30,000. DekaBank Deutsche Girozentrale bought a new position in Hess Midstream during the 3rd quarter valued at $41,000. First Horizon Advisors Inc. boosted its stake in Hess Midstream by 183.4% during 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 in the last quarter. Parkside Financial Bank & Trust boosted its stake in Hess Midstream by 348.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares in the last quarter. Finally, Avion Wealth boosted its stake in Hess Midstream by 66.7% during the 3rd quarter. Avion Wealth now owns 2,500 shares of the company’s stock valued at $72,000 after purchasing an additional 1,000 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.