Wells Fargo & Company Forecasts Strong Price Appreciation for Hess Midstream (NYSE:HESM) Stock

Hess Midstream (NYSE:HESM) had its target price raised by Wells Fargo & Company from $40.00 to $42.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 0.60% from the company’s current price.

Separately, Raymond James boosted their target price 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 Trading Up 1.9 %

Shares of HESM opened at $41.75 on Tuesday. Hess Midstream has a one year low of $32.15 and a one year high of $42.15. The stock has a 50-day moving average price of $38.34 and a 200 day moving average price of $36.86. 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 has a market capitalization of $9.10 billion, a P/E ratio of 16.77 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Sell-side analysts forecast that Hess Midstream will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of Hess Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in HESM. Tompkins Financial Corp bought a new position in Hess Midstream during the 3rd quarter worth $71,000. US Bancorp DE boosted its holdings 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 valued at $74,000 after acquiring an additional 510 shares during the period. KBC Group NV grew its position 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 acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream in the 3rd quarter worth about $100,000. Finally, IFP Advisors Inc lifted its position in Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

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.