Hess Midstream LP (NYSE:HESM – Get Free Report) shares reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $41.73 and last traded at $40.57, with a volume of 125015 shares changing hands. The stock had previously closed at $40.87.
The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%.
Hess Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be given a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream’s payout ratio is currently 116.10%.
Analysts Set New Price Targets
View Our Latest Stock Report on Hess Midstream
Insider Buying and Selling
In related news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Institutional Investors Weigh In On Hess Midstream
A number of institutional investors have recently added to or reduced their stakes in the stock. Tompkins Financial Corp bought a new stake in Hess Midstream during the third quarter worth about $71,000. KBC Group NV boosted its holdings in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Hess Midstream in the 3rd quarter worth approximately $100,000. Icon Wealth Advisors LLC increased its holdings in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.
Hess Midstream Trading Down 0.5 %
The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 17.59 and a beta of 1.52. The business has a 50 day simple moving average of $38.01 and a 200 day simple moving average of $36.80.
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.
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