Wells Fargo & Company Boosts Hess Midstream (NYSE:HESM) Price Target to $37.00

Hess Midstream (NYSE:HESM) had its price target increased by analysts at Wells Fargo & Company from $36.00 to $37.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.08% from the stock’s current price.

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

Hess Midstream Price Performance

Shares of HESM stock traded down $0.03 during trading on Monday, hitting $34.88. The company had a trading volume of 290,995 shares, compared to its average volume of 897,934. The firm has a market capitalization of $7.89 billion, a P/E ratio of 15.79 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 has a one year low of $26.86 and a one year high of $36.84. The stock’s 50-day moving average price is $35.19 and its 200 day moving average price is $32.86.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $356.50 million during 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 was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Equities analysts expect that Hess Midstream will post 2.42 EPS for the current fiscal year.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. grew its position in shares of Hess Midstream by 36.0% in the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after buying an additional 3,107,528 shares during the period. TD Asset Management Inc lifted its stake in shares of Hess Midstream by 190.8% in the fourth quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock worth $73,886,000 after buying an additional 1,532,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hess Midstream by 38.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after acquiring an additional 887,859 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Hess Midstream by 82.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,792,886 shares of the company’s stock valued at $56,709,000 after acquiring an additional 811,976 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Hess Midstream during the 4th quarter valued at $14,133,000. 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.