Hess Midstream (NYSE:HESM) Price Target Increased to $37.00 by Analysts at Wells Fargo & Company

Hess Midstream (NYSE:HESM) had its price objective lifted by equities research analysts at Wells Fargo & Company from $36.00 to $37.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 8.57% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. UBS Group upped their price objective on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Hess Midstream Price Performance

Hess Midstream stock opened at $34.08 on Monday. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. Hess Midstream has a 52 week low of $26.86 and a 52 week high of $36.84. The stock has a market capitalization of $7.71 billion, a P/E ratio of 15.42 and a beta of 1.50. The stock has a fifty day moving average of $35.22 and a 200-day moving average of $32.90.

Hess Midstream (NYSE:HESM) last issued its 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 business had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a return on equity of 34.38% and a net margin of 10.18%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. On average, sell-side analysts expect that Hess Midstream will post 2.42 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Hess Midstream

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Hess Midstream during the first quarter worth about $30,000. DekaBank Deutsche Girozentrale bought a new position in Hess Midstream during the 3rd quarter worth approximately $41,000. First Horizon Advisors Inc. raised its holdings in Hess Midstream by 183.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after purchasing an additional 1,159 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Hess Midstream by 348.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock worth $73,000 after purchasing an additional 1,805 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Hess Midstream by 23.7% in the 3rd quarter. IFP Advisors Inc now owns 2,935 shares of the company’s stock valued at $85,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

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.