Raymond James Raises Hess Midstream (NYSE:HESM) Price Target to $45.00

Hess Midstream (NYSE:HESM) had its target price increased by analysts at Raymond James from $42.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 7.92% from the stock’s previous close.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $41.70 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The business’s 50 day moving average price is $37.92 and its two-hundred day moving average price is $36.77. The company has a market cap of $9.09 billion, a PE ratio of 17.67 and a beta of 1.52. Hess Midstream has a twelve month low of $32.15 and a twelve month high of $42.15.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. On average, analysts predict that Hess Midstream will post 2.41 EPS for the current year.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was 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. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Hess Midstream

Several institutional investors and hedge funds have recently modified their holdings of the business. Yaupon Capital Management LP bought a new stake in Hess Midstream in the 3rd quarter valued at about $44,088,000. Soros Fund Management LLC bought a new stake in shares of Hess Midstream in the third quarter valued at approximately $14,108,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Hess Midstream during the fourth quarter worth approximately $8,786,000. Kayne Anderson Capital Advisors LP increased 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 worth $93,131,000 after acquiring an additional 194,154 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in Hess Midstream in the 3rd quarter valued at $6,349,000. 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.