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

Hess Midstream (NYSE:HESM) had its target price hoisted by equities researchers at Wells Fargo & Company from $40.00 to $42.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.68% from the company’s previous close.

Separately, Raymond James lifted their price objective 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 0.2 %

Hess Midstream stock traded down $0.07 during midday trading on Tuesday, hitting $41.31. 279,915 shares of the stock were exchanged, compared to its average volume of 1,012,397. Hess Midstream has a 52-week low of $32.15 and a 52-week high of $42.15. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 16.59 and a beta of 1.53. The business’s 50-day moving average price is $38.18 and its 200-day moving average price is $36.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, research analysts expect that Hess Midstream will post 2.5 EPS for the current fiscal year.

Insider Activity at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. The trade was 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tompkins Financial Corp purchased a new position in Hess Midstream in the 3rd quarter worth approximately $71,000. KBC Group NV boosted its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Hess Midstream in the 3rd quarter valued at $100,000. IFP Advisors Inc boosted its stake in shares of 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 in the last quarter. Finally, Icon Wealth Advisors LLC boosted its stake in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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.