Citigroup Boosts Hess Midstream (NYSE:HESM) Price Target to $44.00

Hess Midstream (NYSE:HESM) had its price target increased by Citigroup from $41.00 to $44.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 6.84% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Raymond James lifted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Up 0.5 %

Shares of NYSE:HESM opened at $41.19 on Tuesday. The stock’s 50-day moving average is $38.98 and its 200 day moving average is $37.05. 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 company has a market cap of $8.98 billion, a PE ratio of 16.54 and a beta of 1.53. Hess Midstream has a 1 year low of $32.75 and a 1 year high of $42.15.

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 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 anticipate that Hess Midstream will post 2.5 EPS for the current year.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. raised its stake in Hess Midstream by 1.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company’s stock valued at $280,728,000 after buying an additional 83,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Hess Midstream by 11.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock valued at $185,560,000 after buying an additional 496,464 shares during the last quarter. Invesco Ltd. raised its stake in Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company’s stock valued at $151,490,000 after buying an additional 191,175 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in Hess Midstream by 5.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company’s stock valued at $122,553,000 after buying an additional 165,933 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after buying an additional 194,154 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

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.