Wells Fargo & Company Issues Positive Forecast for Hess Midstream (NYSE:HESM) Stock Price

Hess Midstream (NYSE:HESM) had its price objective boosted by Wells Fargo & Company from $40.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Raymond James boosted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th.

Hess Midstream Stock Down 1.0 %

Shares of NYSE HESM opened at $40.95 on Tuesday. The company has a market capitalization of $8.93 billion, a P/E ratio of 16.45 and a beta of 1.53. Hess Midstream has a 52-week low of $32.15 and a 52-week 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 company’s 50 day moving average price is $38.25 and its 200-day moving average price is $36.83.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities analysts forecast that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 6.85%. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s 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 on 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 owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HESM. apricus wealth LLC raised its holdings in Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock worth $685,000 after buying an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC raised its holdings in Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock worth $483,000 after buying an additional 286 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in Hess Midstream by 5.5% during the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after buying an additional 300 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after buying an additional 329 shares during the last quarter. Finally, Hardy Reed LLC raised its holdings in Hess Midstream by 5.3% during the fourth quarter. Hardy Reed LLC now owns 8,990 shares of the company’s stock worth $333,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds 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.