Hess Midstream (NYSE:HESM) Shares Gap Down - Time to Sell?

Hess Midstream LP (NYSE:HESM - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $40.85, but opened at $39.50. Hess Midstream shares last traded at $39.45, with a volume of 670,726 shares traded.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of recent research reports. Raymond James boosted their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th.

Hess Midstream Stock Performance

The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.68 billion, a P/E ratio of 16.00 and a beta of 1.53. The company has a fifty day moving average of $38.65 and a two-hundred day moving average of $36.96.

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

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.7012 per share. The ex-dividend date is Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.04%. Hess Midstream's dividend payout ratio is 112.45%.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's stock in a transaction that occurred 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 is available through this link.

Hedge Funds Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in HESM. Sanctuary Advisors LLC acquired a new position in shares of Hess Midstream during the second quarter worth approximately $426,000. Creative Planning boosted its position in shares of Hess Midstream by 32.6% during the third quarter. Creative Planning now owns 7,390 shares of the company's stock worth $261,000 after buying an additional 1,815 shares during the period. NBC Securities Inc. boosted its position in shares of Hess Midstream by 24,034.0% during the third quarter. NBC Securities Inc. now owns 24,134 shares of the company's stock worth $851,000 after buying an additional 24,034 shares during the period. Seven Grand Managers LLC acquired a new position in shares of Hess Midstream during the third quarter worth approximately $6,349,000. Finally, Raymond James & Associates boosted its position in shares of Hess Midstream by 230.7% during the third quarter. Raymond James & Associates now owns 119,488 shares of the company's stock worth $4,214,000 after buying an additional 83,358 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream

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.