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

Hess Midstream LP (NYSE:HESM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.42 and last traded at $39.38, with a volume of 44235 shares. The stock had previously closed at $38.87.

Hess Midstream Stock Down 1.5 %

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $8.60 billion, a P/E ratio of 16.72 and a beta of 1.52. The stock has a 50 day moving average price of $36.79 and a 200 day moving average price of $36.51.

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

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a yield of 6.94%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s payout ratio is presently 116.10%.

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Hess Midstream

Several institutional investors have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP bought a new position in Hess Midstream during the third quarter worth $44,088,000. Westwood Holdings Group Inc. lifted its stake in shares of Hess Midstream by 126.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock valued at $70,567,000 after purchasing an additional 1,082,840 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Hess Midstream by 23.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock valued at $107,619,000 after purchasing an additional 562,688 shares in the last quarter. Soros Fund Management LLC acquired a new stake in Hess Midstream during the third quarter worth approximately $14,108,000. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after purchasing an additional 194,154 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

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.