Hess Midstream (NYSE:HESM) Sets New 1-Year High - Still a Buy?

Hess Midstream LP (NYSE:HESM - Get Free Report)'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 Price Performance

The stock has a fifty day moving average of $36.61 and a 200 day moving average of $36.46. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 16.96 and a beta of 1.52. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 6.84%. Hess Midstream's dividend payout ratio (DPR) is presently 115.68%.

Insider Activity at Hess Midstream

In related 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 completion of the sale, the chief financial officer now owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Hess Midstream

A number of institutional investors and hedge funds have recently modified their holdings of HESM. Nordea Investment Management AB lifted its stake in shares of Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock worth $10,118,000 after buying an additional 134,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hess Midstream by 51.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock worth $13,370,000 after purchasing an additional 128,009 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Hess Midstream by 37.7% during the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock worth $405,000 after purchasing an additional 3,148 shares during the last quarter. Raymond James & Associates grew its position in shares of Hess Midstream by 230.7% in the third quarter. Raymond James & Associates now owns 119,488 shares of the company's stock valued at $4,214,000 after purchasing an additional 83,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hess Midstream by 9.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company's stock valued at $7,093,000 after purchasing an additional 17,261 shares during the last quarter. Hedge funds and other 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.