JPMorgan Chase & Co. Increases Hess Midstream (NYSE:HESM) Price Target to $44.00

Hess Midstream (NYSE:HESM) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $39.00 to $44.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.58% from the stock’s previous close.

HESM has been the subject of several other research reports. Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Finally, 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 report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Hess Midstream Trading Down 0.3 %

NYSE HESM traded down $0.15 during trading hours on Thursday, reaching $42.90. The company’s stock had a trading volume of 195,611 shares, compared to its average volume of 935,282. Hess Midstream has a 52 week low of $32.75 and a 52 week high of $44.05. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $9.35 billion, a P/E ratio of 17.22 and a beta of 1.48. The firm has a fifty day simple moving average of $41.09 and a 200-day simple moving average of $37.96.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data 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 return on equity of 54.59% and a net margin of 14.92%. Equities analysts forecast that Hess Midstream will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Hess Midstream

Several institutional investors and hedge funds have recently bought and sold shares of HESM. Steward Partners Investment Advisory LLC boosted its stake in Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after acquiring an additional 579 shares in the last quarter. US Bancorp DE boosted its position in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Hess Midstream in the 3rd quarter worth approximately $100,000. IFP Advisors Inc increased its position in Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after buying an additional 733 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its stake in Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after buying an additional 329 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.