Hess Midstream (NYSE:HESM) Given New $44.00 Price Target at Citigroup

Hess Midstream (NYSE:HESM) had its price objective hoisted by Citigroup from $41.00 to $44.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James upped 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Hess Midstream Stock Up 2.7 %

HESM opened at $40.94 on Tuesday. The firm has a 50-day simple moving average of $38.88 and a two-hundred day simple moving average of $37.02. Hess Midstream has a 52 week low of $32.75 and a 52 week high of $42.15. The company has a market capitalization of $8.92 billion, a PE ratio of 16.44 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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%. Analysts forecast that Hess Midstream will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.85%. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Activity

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 available through the SEC website.

Institutional Investors Weigh In On Hess Midstream

Several institutional investors have recently bought and sold shares of HESM. Steward Partners Investment Advisory LLC boosted its stake in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after acquiring an additional 579 shares in the last quarter. Tompkins Financial Corp acquired a new stake in shares of Hess Midstream during the third quarter worth $71,000. US Bancorp DE lifted its stake in shares of Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after buying an additional 510 shares during the period. KBC Group NV lifted its stake in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream during the third quarter worth $100,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

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.