Hess Midstream (NYSE:HESM) Sets New 12-Month High – What’s Next?

Hess Midstream LP (NYSE:HESM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.41 and last traded at $41.40, with a volume of 26460 shares traded. The stock had previously closed at $41.28.

Hess Midstream Stock Performance

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 $8.89 billion, a price-to-earnings ratio of 17.28 and a beta of 1.52. The stock has a 50-day moving average price of $37.39 and a 200 day moving average price of $36.64.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. As a group, analysts anticipate that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 6.72%. The ex-dividend date was Thursday, November 7th. Hess Midstream’s payout ratio is currently 116.10%.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tompkins Financial Corp acquired a new position in shares of Hess Midstream during the 3rd quarter worth approximately $71,000. KBC Group NV increased its holdings in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in Hess Midstream during the third quarter worth $100,000. Icon Wealth Advisors LLC lifted its stake in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors own 98.97% 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.