Citigroup Forecasts Strong Price Appreciation for Hess Midstream (NYSE:HESM) Stock

Hess Midstream (NYSE:HESM - Free Report) had its price objective upped by Citigroup from $41.00 to $44.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also commented on the company. Raymond James raised their price target on 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 raised their price target on 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $42.00.

Hess Midstream Trading Down 1.5 %

HESM stock traded down $0.60 during midday trading on Tuesday, reaching $40.66. The company's stock had a trading volume of 1,089,414 shares, compared to its average volume of 1,348,307. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 16.33 and a beta of 1.53. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream has a 1 year low of $32.75 and a 1 year high of $42.15. The stock has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $37.11.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, equities research analysts predict 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. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.90%. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio (DPR) is presently 112.45%.

Insider Activity at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Hess Midstream

Several institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new stake in Hess Midstream in the fourth quarter worth about $315,000. Zimmer Partners LP acquired a new stake in Hess Midstream in the fourth quarter worth about $23,415,000. Zurich Insurance Group Ltd FI acquired a new stake in Hess Midstream in the fourth quarter worth about $1,255,000. WBI Investments LLC boosted its holdings in Hess Midstream by 2.5% in the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company's stock worth $678,000 after acquiring an additional 446 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Hess Midstream in the fourth quarter worth about $1,684,000. Institutional investors and hedge funds 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.