Fintel reports that on July 20, 2023, Morgan Stanley maintained coverage of Hess Midstream LP - (NYSE:HESM) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 12.25% Upside
As of July 6, 2023, the average one-year price target for Hess Midstream LP - is 35.19. The forecasts range from a low of 31.31 to a high of $39.90. The average price target represents an increase of 12.25% from its latest reported closing price of 31.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hess Midstream LP - is 1,316MM, an increase of 3.80%. The projected annual non-GAAP EPS is 2.50.
Hess Midstream LP - Declares $0.59 Dividend
On April 24, 2023 the company declared a regular quarterly dividend of $0.59 per share ($2.34 annualized). Shareholders of record as of May 4, 2023 received the payment on May 12, 2023. Previously, the company paid $0.57 per share.
At the current share price of $31.35 / share, the stock's dividend yield is 7.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.41%, the lowest has been 6.17%, and the highest has been 21.32%. The standard deviation of yields is 1.96 (n=198).
The current dividend yield is 0.48 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.36%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 243 funds or institutions reporting positions in Hess Midstream LP -. This is a decrease of 6 owner(s) or 2.41% in the last quarter. Average portfolio weight of all funds dedicated to HESM is 0.60%, a decrease of 21.81%. Total shares owned by institutions decreased in the last three months by 0.62% to 54,940K shares. 
The put/call ratio of HESM is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
Alps Advisors holds 6,514K shares representing 14.77% ownership of the company. In it's prior filing, the firm reported owning 6,476K shares, representing an increase of 0.59%. The firm decreased its portfolio allocation in HESM by 4.41% over the last quarter.
AMLP - ALERIAN MLP ETF holds 6,362K shares representing 14.43% ownership of the company. In it's prior filing, the firm reported owning 6,416K shares, representing a decrease of 0.86%. The firm decreased its portfolio allocation in HESM by 10.20% over the last quarter.
Energy Income Partners holds 3,567K shares representing 8.09% ownership of the company. In it's prior filing, the firm reported owning 3,288K shares, representing an increase of 7.84%. The firm increased its portfolio allocation in HESM by 3.22% over the last quarter.
Ci Investments holds 2,801K shares representing 6.35% ownership of the company. In it's prior filing, the firm reported owning 2,850K shares, representing a decrease of 1.75%. The firm decreased its portfolio allocation in HESM by 5.42% over the last quarter.
Invesco holds 2,625K shares representing 5.95% ownership of the company. In it's prior filing, the firm reported owning 2,218K shares, representing an increase of 15.53%. The firm decreased its portfolio allocation in HESM by 89.91% over the last quarter.
Hess Midstream Background Information
(This description is provided by the company.)
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
