Hess Midstream (NYSE:HESM) Sets New 12-Month High at $36.12

Shares of Hess Midstream LP (NYSE:HESM) reached a new 52-week high on Thursday . The stock traded as high as $36.12 and last traded at $35.89, with a volume of 45043 shares. The stock had previously closed at $35.83.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut Hess Midstream from an “overweight” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Friday, March 8th. UBS Group upped their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Hess Midstream Price Performance

The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $8.13 billion, a P/E ratio of 17.15 and a beta of 1.50. The firm’s fifty day moving average is $34.18 and its 200 day moving average is $31.90.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts predict that Hess Midstream LP will post 2.55 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.6343 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.54 annualized dividend and a dividend yield of 7.06%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio (DPR) is currently 121.53%.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Hess Midstream

Several hedge funds have recently modified their holdings of HESM. Tower Research Capital LLC TRC purchased a new stake in Hess Midstream in the third quarter valued at $32,000. DekaBank Deutsche Girozentrale acquired a new position in Hess Midstream in the third quarter valued at about $41,000. Great West Life Assurance Co. Can boosted its stake in Hess Midstream by 83.9% during the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after buying an additional 804 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Hess Midstream by 183.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after acquiring an additional 1,159 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Hess Midstream in the 1st quarter worth approximately $53,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Company Profile

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.