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UBS has maintained a Buy recommendation for Hess (NYSE:) Midstream LP (NYSE:HESM), forecasting a one-year price target of $35.53, which suggests a potential upside of 26.71%. This update was provided on Friday.
The financial institution has projected the annual revenue growth for Hess Midstream to be at 2.94%, with an expected revenue of $1,316 million. The company, which operates as a midstream entity in the Bakken and Three Forks Shale plays in North Dakota, recently declared a quarterly dividend of $0.60 per share, yielding 8.57%.
Despite the high dividend payout ratio of 1.81, it suggests that Hess Midstream is utilizing its savings for dividends. The investor sentiment towards the company remains bullish, with fund owners increasing and an average portfolio weight of 0.66%.
Key stakeholders in Hess Midstream include Alps Advisors, holding a substantial 12.61% stake; AMLP – ALERIAN MLP ETF with 9.22%; Invesco owning 4.78%, and Tortoise Capital Advisors holding 4.70%.
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