Hess Midstream (NYSE:HESM) Sets New 1-Year High at $36.57

Hess Midstream LP (NYSE:HESMGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.57 and last traded at $36.54, with a volume of 35361 shares changing hands. The stock had previously closed at $36.09.

Analysts Set New Price Targets

HESM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered Hess Midstream from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, March 8th. UBS Group boosted their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat, Hess Midstream currently has an average rating of “Moderate Buy” and an average price target of $35.50.

Read Our Latest Analysis on HESM

Hess Midstream Stock Up 1.5 %

The business has a 50-day moving average price of $34.47 and a two-hundred day moving average price of $32.09. 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 has a market cap of $8.29 billion, a PE ratio of 17.26 and a beta of 1.50.

Hess Midstream (NYSE:HESMGet Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $358.86 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Hess Midstream LP will post 2.55 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.6343 per share. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 dividend on an annualized basis and a dividend yield of 6.93%. This is a positive change 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 on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Hess Midstream

Several large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position 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 $41,000. Dark Forest Capital Management LP acquired a new position in Hess Midstream in the first quarter valued at $53,000. Great West Life Assurance Co. Can boosted its stake in Hess Midstream by 83.9% in the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock valued at $56,000 after acquiring an additional 804 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Hess Midstream by 183.4% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Hess Midstream Company Profile

(Get Free Report)

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.

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