Hess Midstream (NYSE:HESM) Given New $38.00 Price Target at JPMorgan Chase & Co.

Hess Midstream (NYSE:HESM) had its price objective upped by analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.82% from the stock’s current price.

Separately, UBS Group lifted their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Three 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, Hess Midstream presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Hess Midstream Trading Down 1.1 %

NYSE HESM traded down $0.37 during trading hours on Tuesday, hitting $34.29. 25,977 shares of the company’s stock were exchanged, compared to its average volume of 894,855. The business’s 50 day moving average is $34.79 and its 200-day moving average is $32.46. Hess Midstream has a 12-month low of $26.86 and a 12-month high of $36.84. The firm has a market capitalization of $7.76 billion, a P/E ratio of 16.50 and a beta of 1.50. 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 (NYSE:HESM) last released its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The business had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $358.86 million. During the same quarter last year, the company posted $0.49 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, analysts anticipate that Hess Midstream will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s 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 filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Hess Midstream

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in Hess Midstream during the 3rd quarter valued at $32,000. DekaBank Deutsche Girozentrale bought a new stake in Hess Midstream during the 3rd quarter valued at $41,000. Great West Life Assurance Co. Can raised its stake in Hess Midstream by 83.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock valued at $56,000 after acquiring an additional 804 shares in the last quarter. First Horizon Advisors Inc. raised 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 acquiring an additional 1,159 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Hess Midstream during the 1st quarter valued at $53,000. Institutional investors own 92.41% of the company’s stock.

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.