Hess Midstream LP (NYSE:HESM) has been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $25.38.
HESM has been the subject of a number of research reports. Zacks Investment Research lowered Hess Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 30th. Morgan Stanley raised their target price on Hess Midstream from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, August 26th. The Goldman Sachs Group assumed coverage on Hess Midstream in a report on Monday, June 14th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Hess Midstream from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th.
Large investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of Hess Midstream by 70.6% in the first quarter. Captrust Financial Advisors now owns 1,109 shares of the company’s stock worth $25,000 after purchasing an additional 459 shares during the last quarter. Royal Bank of Canada increased its position in shares of Hess Midstream by 17.4% during the second quarter. Royal Bank of Canada now owns 3,376 shares of the company’s stock valued at $85,000 after acquiring an additional 500 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Hess Midstream by 1.0% during the second quarter. Wells Fargo & Company MN now owns 67,058 shares of the company’s stock valued at $1,693,000 after acquiring an additional 649 shares during the last quarter. Ameritas Investment Company LLC purchased a new stake in Hess Midstream in the first quarter worth $29,000. Finally, American Financial Group Inc. increased its position in Hess Midstream by 5.6% in the first quarter. American Financial Group Inc. now owns 38,000 shares of the company’s stock worth $852,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.
Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 28th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08. The business had revenue of $294.80 million during the quarter. Analysts predict that Hess Midstream will post 1.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Monday, August 9th were given a dividend of $0.504 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 6th. This represents a $2.02 annualized dividend and a dividend yield of 7.71%. Hess Midstream’s dividend payout ratio is presently 154.20%.
About Hess Midstream
Hess Midstream LP engages in the ownership, development and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression.
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