Hess Midstream (NYSE:HESM) Given New $44.00 Price Target at Citigroup

Hess Midstream (NYSE:HESM) had its price target raised by Citigroup from $41.00 to $44.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Raymond James boosted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Price Performance

Shares of HESM opened at $40.94 on Tuesday. The firm has a market cap of $8.92 billion, a PE ratio of 16.44 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a fifty day simple moving average of $38.88 and a two-hundred day simple moving average of $37.02. Hess Midstream has a 1-year low of $32.75 and a 1-year high of $42.15.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, equities analysts anticipate that Hess Midstream will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.85%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio is 112.45%.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HESM. Creative Planning boosted its holdings in Hess Midstream by 32.6% in the 3rd quarter. Creative Planning now owns 7,390 shares of the company’s stock worth $261,000 after buying an additional 1,815 shares during the period. Raymond James & Associates boosted its holdings in shares of Hess Midstream by 230.7% during the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after purchasing an additional 83,358 shares during the last quarter. Stephens Inc. AR bought a new position in shares of Hess Midstream during the 3rd quarter valued at about $3,255,000. Catalyst Capital Advisors LLC boosted its holdings in shares of Hess Midstream by 15.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company’s stock valued at $6,851,000 after purchasing an additional 26,290 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC bought a new position in shares of Hess Midstream during the 3rd quarter valued at about $322,000. Institutional investors own 98.97% 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.