Citigroup Increases Hess Midstream (NYSE:HESM) Price Target to $44.00

Hess Midstream (NYSE:HESM) had its target price raised by Citigroup from $41.00 to $44.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 7.47% from the company’s current price.

Several other brokerages have also recently commented on HESM. Wells Fargo & Company lifted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Hess Midstream Trading Up 2.7 %

HESM opened at $40.94 on Tuesday. Hess Midstream has a 1-year low of $32.75 and a 1-year high of $42.15. The firm has a 50-day moving average price of $38.88 and a two-hundred day moving average price of $37.02. The stock has a market capitalization of $8.92 billion, a PE ratio of 16.44 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 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%. As a group, equities analysts anticipate that Hess Midstream will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this link.

Institutional Trading of Hess Midstream

A number of large investors have recently bought and sold shares of HESM. Nordea Investment Management AB boosted its holdings in shares of Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after buying an additional 134,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hess Midstream by 51.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock worth $13,370,000 after purchasing an additional 128,009 shares during the period. Stifel Financial Corp raised its stake in shares of Hess Midstream by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after purchasing an additional 3,148 shares during the period. Raymond James & Associates raised its stake in shares of Hess Midstream by 230.7% in the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after purchasing an additional 83,358 shares during the period. Finally, Artemis Investment Management LLP boosted its position in shares of Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock worth $31,520,000 after buying an additional 90,521 shares during the period. 98.97% of the stock is 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.