Hess Midstream (NYSE:HESM) Reaches New 1-Year High at $36.12

Hess Midstream LP (NYSE:HESM)’s stock price 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 changing hands. The stock had previously closed at $35.83.

Analyst Upgrades and Downgrades

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

Hess Midstream Trading Up 0.3 %

The stock’s 50-day moving average price is $34.18 and its 200 day moving average price is $31.90. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $8.13 billion, a PE ratio of 17.15 and a beta of 1.50.

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

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were issued a $0.6343 dividend. 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. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.06%. Hess Midstream’s dividend payout ratio (DPR) is currently 121.53%.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its position in Hess Midstream by 36.0% in the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after purchasing an additional 3,107,528 shares in the last quarter. TD Asset Management Inc grew its stake in Hess Midstream by 190.8% in the 4th quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock valued at $73,886,000 after acquiring an additional 1,532,700 shares during the period. Cohen & Steers Inc. lifted its holdings in Hess Midstream by 179,205.0% during the second quarter. Cohen & Steers Inc. now owns 1,151,138 shares of the company’s stock valued at $35,317,000 after purchasing an additional 1,150,496 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hess Midstream by 38.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after purchasing an additional 887,859 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Hess Midstream by 82.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,792,886 shares of the company’s stock worth $56,709,000 after acquiring an additional 811,976 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

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.