Hess Midstream (NYSE:HESM) Price Target Raised to $45.00

Hess Midstream (NYSE:HESM - Get Free Report) had its price target increased by investment analysts at Raymond James from $42.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Raymond James' target price indicates a potential upside of 10.93% from the stock's current price.

Hess Midstream Trading Down 3.2 %

Shares of HESM stock traded down $1.35 on Tuesday, hitting $40.57. The company had a trading volume of 1,134,284 shares, compared to its average volume of 1,028,766. The firm has a market cap of $8.84 billion, a P/E ratio of 16.29 and a beta of 1.52. Hess Midstream has a twelve month low of $32.15 and a twelve month high of $42.15. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50-day moving average is $38.01 and its two-hundred day moving average is $36.80.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 research analysts anticipate that Hess Midstream will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in HESM. Kayne Anderson Capital Advisors LP boosted its stake in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company's stock worth $93,131,000 after acquiring an additional 194,154 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Hess Midstream by 3.8% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company's stock worth $46,691,000 after purchasing an additional 49,003 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Hess Midstream in the third quarter valued at approximately $44,088,000. Artemis Investment Management LLP raised its holdings in shares of Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after acquiring an additional 90,521 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its position in shares of Hess Midstream by 24.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company's stock worth $21,683,000 after purchasing an additional 121,342 shares during the period. Hedge funds and other institutional investors own 98.97% 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.