Hess Midstream (NYSE:HESM) Reaches New 12-Month High - Should You Buy?

Hess Midstream LP (NYSE:HESM - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $42.31 and last traded at $42.11, with a volume of 444207 shares. The stock had previously closed at $40.68.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James upped their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup upped their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, 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 research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Hess Midstream Price Performance

The firm has a market cap of $9.41 billion, a P/E ratio of 17.33 and a beta of 1.48. The business's fifty day simple moving average is $40.47 and its 200-day simple moving average is $37.64. 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 posted its quarterly earnings results on Wednesday, January 29th. 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 net margin of 14.92% and a return on equity of 54.59%. As a group, analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Remove Ads

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were 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 SEC, which is available through this hyperlink.

Institutional Trading of Hess Midstream

A number of large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its stake 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 purchasing an additional 579 shares during the period. US Bancorp DE boosted its position in Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares during the period. KBC Group NV boosted its position in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company's stock valued at $99,000 after buying an additional 1,279 shares during the period. Millburn Ridgefield Corp purchased a new stake in Hess Midstream in the 3rd quarter valued at about $100,000. Finally, IFP Advisors Inc boosted its position in Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after buying an additional 733 shares during the period. 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.