Hess Midstream (NYSE:HESM) Reaches New 52-Week High at $36.12

Hess Midstream LP (NYSE:HESM) reached a new 52-week high during mid-day trading 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.

Analysts Set New Price Targets

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

Hess Midstream Price Performance

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

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. During the same quarter in the previous year, the firm posted $0.49 EPS. Hess Midstream’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Hess Midstream LP will post 2.55 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were issued a dividend of $0.6343 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend was Wednesday, February 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio is currently 121.53%.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Hess Midstream

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Hess Midstream by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 401,838 shares of the company’s stock worth $12,710,000 after purchasing an additional 5,088 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Hess Midstream by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,431,870 shares of the company’s stock worth $108,550,000 after acquiring an additional 72,548 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Hess Midstream in the fourth quarter worth $534,000. GSA Capital Partners LLP increased its holdings in shares of Hess Midstream by 521.7% during the fourth quarter. GSA Capital Partners LLP now owns 99,834 shares of the company’s stock valued at $3,158,000 after acquiring an additional 83,777 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Hess Midstream by 751.0% in the 4th quarter. Barclays PLC now owns 309,670 shares of the company’s stock worth $9,794,000 after purchasing an additional 273,281 shares during the last quarter. Institutional investors own 92.41% 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.