Hess Midstream (NYSE:HESM) Reaches New 12-Month High - What's Next?

Hess Midstream LP (NYSE:HESM - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $42.18 and last traded at $42.21, with a volume of 1205489 shares traded. The stock had previously closed at $41.73.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Raymond James lifted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Hess Midstream Trading Down 0.5 %

The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 16.19 and a beta of 1.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm's 50 day moving average is $39.80 and its 200 day moving average is $37.38.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS 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%. Equities analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.96%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is presently 112.45%.

Insiders Place Their Bets

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its holdings in shares of Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after acquiring an additional 134,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Hess Midstream by 51.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock valued at $13,370,000 after purchasing an additional 128,009 shares in the last quarter. Stifel Financial Corp grew its stake in Hess Midstream by 37.7% in the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock valued at $405,000 after purchasing an additional 3,148 shares in the last quarter. Van ECK Associates Corp increased its position in Hess Midstream by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after purchasing an additional 10,175 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of Hess Midstream by 11.9% during the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares in the last quarter. Institutional investors and hedge funds 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.