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

Hess Midstream LP (NYSE:HESM)’s stock price reached a new 52-week high during 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HESM. JPMorgan Chase & Co. downgraded 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 target price on 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Hess Midstream Trading Up 0.3 %

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 company has a market cap of $8.13 billion, a P/E ratio of 17.15 and a beta of 1.50. The business has a fifty day moving average price of $34.18 and a 200-day moving average price of $31.90.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The business had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. During the same quarter last year, the firm posted $0.49 EPS. Hess Midstream’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, 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. Shareholders of record on Thursday, February 8th were given a dividend of $0.6343 per share. This represents a $2.54 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Wednesday, February 7th. 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%.

Insiders Place Their Bets

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 stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HESM. Advisor Group Holdings Inc. increased its stake in shares of Hess Midstream by 43.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after purchasing an additional 2,423 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Hess Midstream during the first quarter valued at about $244,000. Cetera Advisor Networks LLC purchased a new position in shares of Hess Midstream in the first quarter valued at about $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Hess Midstream during the first quarter valued at about $1,556,000. Finally, BlackRock Inc. increased its holdings in shares of Hess Midstream by 220.0% in the first quarter. BlackRock Inc. now owns 391,128 shares of the company’s stock worth $11,733,000 after purchasing an additional 268,914 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.