Hess Midstream LP (NYSE:HESM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Hess Midstream LP (NYSE:HESM) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $36.50.

HESM has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, UBS Group upped their target price on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 1st.

Insider Transactions at Hess Midstream

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

Institutional Investors Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in HESM. Capstone Investment Advisors LLC lifted its position in Hess Midstream by 439.0% in the first quarter. Capstone Investment Advisors LLC now owns 107,806 shares of the company’s stock valued at $3,895,000 after buying an additional 87,806 shares during the last quarter. Naples Global Advisors LLC raised its stake in Hess Midstream by 3.0% during the 1st quarter. Naples Global Advisors LLC now owns 61,920 shares of the company’s stock worth $2,237,000 after acquiring an additional 1,825 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream during the 1st quarter worth approximately $30,000. Lindbrook Capital LLC purchased a new stake in Hess Midstream in the 1st quarter valued at $518,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Hess Midstream by 5.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 76,507 shares of the company’s stock valued at $2,764,000 after acquiring an additional 3,725 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Hess Midstream Price Performance

Hess Midstream stock opened at $34.25 on Friday. 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. The firm’s fifty day moving average is $35.20 and its 200 day moving average is $32.94. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 15.50 and a beta of 1.51.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd will be given a $0.6516 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.61%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio is 118.10%.

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.