Hess Midstream (HESM) to Release Earnings on Wednesday

Hess Midstream (NYSE:HESM – Get Rating) will post its quarterly earnings results before the market opens on Wednesday, January 25th. Analysts expect Hess Midstream to post earnings of $0.50 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Hess Midstream (NYSE:HESM – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $334.80 million during the quarter, compared to analyst estimates of $285.34 million. On average, analysts expect Hess Midstream to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Hess Midstream Trading Up 0.1 %

Shares of NYSE:HESM traded up $0.02 during mid-day trading on Tuesday, reaching $31.84. The stock had a trading volume of 449,164 shares, compared to its average volume of 341,444. The firm has a market cap of $1.40 billion, a PE ratio of 15.68 and a beta of 1.62. The firm has a 50 day simple moving average of $30.05 and a two-hundred day simple moving average of $28.93. Hess Midstream has a twelve month low of $24.33 and a twelve month high of $35.71.

Institutional Investors Weigh In On Hess Midstream

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in shares of Hess Midstream in the third quarter worth $32,000. Great West Life Assurance Co. Can increased its position in shares of Hess Midstream by 83.9% in the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after purchasing an additional 804 shares during the period. BNP Paribas Arbitrage SNC bought a new position in shares of Hess Midstream in the third quarter worth $71,000. Geneos Wealth Management Inc. increased its position in shares of Hess Midstream by 400.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,000 shares of the company’s stock worth $90,000 after purchasing an additional 2,400 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Hess Midstream by 35.0% in the second quarter. Quantbot Technologies LP now owns 6,978 shares of the company’s stock worth $195,000 after purchasing an additional 1,808 shares during the period. Institutional investors and hedge funds own 87.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HESM. Morgan Stanley raised their price target on shares of Hess Midstream from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, January 9th. Citigroup began coverage on shares of Hess Midstream in a research note on Friday, December 9th. They set a “buy” rating and a $34.00 price target for the company.

About Hess Midstream

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Hess Midstream LP engages in the ownership, development, and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage, and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression.