Hess Midstream (NYSE:HESM) Given New $37.00 Price Target at Wells Fargo & Company

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

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

Hess Midstream Stock Performance

HESM traded down $0.03 during trading hours on Monday, hitting $34.88. The company’s stock had a trading volume of 290,995 shares, compared to its average volume of 897,934. Hess Midstream has a fifty-two week low of $26.86 and a fifty-two week high of $36.84. The firm has a market capitalization of $7.89 billion, a PE ratio of 15.79 and a beta of 1.50. The company has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $32.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Hess Midstream will post 2.42 EPS for the current year.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Peapack Gladstone Financial Corp lifted its holdings in shares of Hess Midstream by 5.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after acquiring an additional 484 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Hess Midstream by 23.7% in the third quarter. IFP Advisors Inc now owns 2,935 shares of the company’s stock worth $85,000 after buying an additional 562 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Hess Midstream by 0.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 182,058 shares of the company’s stock valued at $5,303,000 after buying an additional 631 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream during the 1st quarter valued at about $30,000. Finally, WBI Investments LLC grew its position in Hess Midstream by 3.3% during the 4th quarter. WBI Investments LLC now owns 29,694 shares of the company’s stock worth $939,000 after purchasing an additional 938 shares during the last quarter. Institutional investors and hedge funds 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.