Hess Midstream (NYSE:HESM) Price Target Raised to $42.00 at Wells Fargo & Company

Hess Midstream (NYSE:HESM - Free Report) had its price target boosted by Wells Fargo & Company from $40.00 to $42.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, 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 report on Tuesday, January 28th.

Hess Midstream Trading Down 0.1 %

HESM traded down $0.04 during trading on Tuesday, reaching $40.42. 589,011 shares of the stock traded hands, compared to its average volume of 1,036,709. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock's 50-day moving average is $38.40 and its 200 day moving average is $36.89. Hess Midstream has a 12 month low of $32.15 and a 12 month high of $42.15. The stock has a market capitalization of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its 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%. Equities analysts anticipate that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.94%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream's dividend payout ratio is presently 110.04%.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Hess Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Yaupon Capital Management LP bought a new stake in shares of Hess Midstream during the 3rd quarter worth $44,088,000. Soros Fund Management LLC bought a new position in shares of Hess Midstream during the 3rd quarter worth $14,108,000. Raymond James Financial Inc. purchased a new stake in Hess Midstream in the 4th quarter worth about $12,976,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Hess Midstream in the 4th quarter valued at about $8,786,000. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company's stock valued at $93,131,000 after purchasing an additional 194,154 shares during the last quarter. Hedge funds and other 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.