Hess Midstream (NYSE:HESM) Stock Price Down 2.7% - Should You Sell?

Shares of Hess Midstream LP (NYSE:HESM - Get Free Report) traded down 2.7% on Thursday . The stock traded as low as $36.25 and last traded at $36.29. 446,042 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 892,336 shares. The stock had previously closed at $37.30.

Hess Midstream Trading Down 2.5 %

The stock has a market capitalization of $7.93 billion, a PE ratio of 15.41 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a 50-day moving average price of $35.99 and a 200-day moving average price of $36.29.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. As a group, equities analysts forecast that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.6846 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 annualized dividend and a yield of 7.53%. Hess Midstream's dividend payout ratio is presently 115.68%.

Insiders Place Their Bets

In related news, CFO Jonathan C. Stein sold 7,923 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Hess Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC grew its holdings in Hess Midstream by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company's stock valued at $469,000 after buying an additional 561 shares in the last quarter. McIlrath & Eck LLC purchased a new position in Hess Midstream during the third quarter valued at approximately $455,000. M&T Bank Corp bought a new stake in Hess Midstream during the 3rd quarter worth approximately $1,058,000. MML Investors Services LLC lifted its stake in Hess Midstream by 31.2% in the 3rd quarter. MML Investors Services LLC now owns 76,264 shares of the company's stock worth $2,690,000 after purchasing an additional 18,158 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in Hess Midstream in the 3rd quarter valued at $44,088,000. Institutional investors 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.