Hess Midstream LP (NYSE:HESM - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $41.73 and last traded at $40.57, with a volume of 125015 shares. The stock had previously closed at $40.87.
The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%.
Hess Midstream Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be issued a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 6.91%. The ex-dividend date is Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's payout ratio is presently 110.04%.
Analysts Set New Price Targets
Separately, Raymond James raised their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th.
Check Out Our Latest Stock Report on Hess Midstream
Insider Buying and Selling
In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares of the company's stock, valued at $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Institutional Trading of Hess Midstream
A number of hedge funds and other institutional investors have recently made changes to their positions in HESM. Tompkins Financial Corp purchased a new position in Hess Midstream in the third quarter worth approximately $71,000. KBC Group NV increased its position in shares of Hess Midstream by 83.9% during 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 during the last quarter. Millburn Ridgefield Corp purchased a new stake in Hess Midstream in the 3rd quarter valued at about $100,000. Icon Wealth Advisors LLC lifted its position in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock valued at $116,000 after buying an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Hess Midstream by 487.4% during the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company's stock worth $119,000 after buying an additional 2,793 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.
Hess Midstream Trading Down 3.2 %
The business's 50-day simple moving average is $38.09 and its two-hundred day simple moving average is $36.79. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 16.29 and a beta of 1.52. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.
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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