Hess Midstream (NYSE:HESM) Reaches New 1-Year High at $38.16

Hess Midstream LP (NYSE:HESM)’s share price reached a new 52-week high on Monday . The company traded as high as $38.16 and last traded at $38.16, with a volume of 271 shares changing hands. The stock had previously closed at $38.10.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, UBS Group lifted their target price on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

Hess Midstream Stock Up 0.1 %

The company has a debt-to-equity ratio of 8.67, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 17.24 and a beta of 1.52. The firm’s 50-day simple moving average is $35.74 and its 200-day simple moving average is $34.68.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The company had revenue of $355.60 million for the quarter, compared to analyst estimates of $354.98 million. Hess Midstream had a net margin of 10.18% and a return on equity of 35.08%. Sell-side analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd were given a $0.6516 dividend. This represents a $2.61 annualized dividend and a yield of 6.84%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, May 1st. Hess Midstream’s dividend payout ratio (DPR) is currently 118.10%.

Insiders Place Their Bets

In other news, Director Infrastructure Investor Global sold 1,500,000 shares of Hess Midstream stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $34.02, for a total transaction of $51,030,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of Hess Midstream

Institutional investors have recently made changes to their positions in the business. TD Asset Management Inc raised its stake in shares of Hess Midstream by 190.8% in the fourth quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock worth $73,886,000 after acquiring an additional 1,532,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 887,859 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Hess Midstream by 82.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,792,886 shares of the company’s stock worth $56,709,000 after buying an additional 811,976 shares during the last quarter. BROOKFIELD Corp ON raised its stake in shares of Hess Midstream by 434.8% during the first quarter. BROOKFIELD Corp ON now owns 843,577 shares of the company’s stock worth $30,478,000 after buying an additional 685,847 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Hess Midstream by 55.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company’s stock worth $47,170,000 after buying an additional 467,601 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.