Hess Midstream (NYSE:HESM) Given New $38.00 Price Target at JPMorgan Chase & Co.

Hess Midstream (NYSE:HESM) had its price target increased by stock analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.82% from the stock’s current price.

Separately, UBS Group boosted their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Hess Midstream Price Performance

Shares of HESM stock traded down $0.37 during midday trading on Tuesday, reaching $34.29. 25,977 shares of the company were exchanged, compared to its average volume of 894,855. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50 day moving average price is $34.79 and its two-hundred day moving average price is $32.46. Hess Midstream has a 12 month low of $26.86 and a 12 month high of $36.84. The company has a market cap of $7.76 billion, a P/E ratio of 16.50 and a beta of 1.50.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. During the same period last year, the business earned $0.49 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Hess Midstream will post 2.55 earnings per share for the current year.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of Hess Midstream stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Hess Midstream

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of Hess Midstream in the 3rd quarter worth $32,000. DekaBank Deutsche Girozentrale bought a new position in Hess Midstream during the 3rd quarter valued at $41,000. Dark Forest Capital Management LP purchased a new stake in shares of Hess Midstream during the 1st quarter valued at $53,000. Great West Life Assurance Co. Can increased its position in shares of Hess Midstream by 83.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock valued at $56,000 after purchasing an additional 804 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Hess Midstream by 183.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after purchasing an additional 1,159 shares during the last quarter. 92.41% of the stock is 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.