Hess Midstream LP (NYSE:HESM - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $44.05 and last traded at $43.87, with a volume of 1352882 shares changing hands. The stock had previously closed at $43.21.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Citigroup upped their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company upped their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Finally, Raymond James upped their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.
Read Our Latest Stock Report on HESM
Hess Midstream Trading Down 1.9 %
The business has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $37.81. The stock has a market capitalization of $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.
Hess Midstream (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio is currently 112.45%.
Insider Buying and Selling
In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Institutional Trading of Hess Midstream
Several institutional investors and hedge funds have recently modified their holdings of HESM. Steward Partners Investment Advisory LLC lifted its position in shares of Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after buying an additional 579 shares during the last quarter. US Bancorp DE increased its holdings in Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after purchasing an additional 510 shares in the last quarter. KBC Group NV increased its holdings in 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 purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in Hess Midstream in the 3rd quarter worth about $100,000. Finally, IFP Advisors Inc increased its holdings in Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after purchasing an additional 733 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.
Hess Midstream Company Profile
(
Get Free Report)
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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