Hess Midstream (NYSE:HESM) Sees Unusually-High Trading Volume - Here's What Happened

Hess Midstream LP (NYSE:HESM - Get Free Report) shares saw an uptick in trading volume on Monday . 992,099 shares changed hands during mid-day trading, an increase of 8% from the previous session's volume of 917,590 shares.The stock last traded at $36.18 and had previously closed at $36.35.

Analyst Ratings Changes

HESM has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st.

Hess Midstream Stock Down 0.7 %

The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 16.33 and a beta of 1.51. The firm has a 50 day moving average price of $36.23 and a 200-day moving average price of $35.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. During the same period in the prior year, the business earned $0.50 earnings per share. The company's quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream LP will post 2.36 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were given a $0.6677 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a dividend yield of 7.40%. The ex-dividend date was Thursday, August 8th. Hess Midstream's dividend payout ratio is currently 120.81%.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of Hess Midstream by 15.2% in the third quarter. SG Americas Securities LLC now owns 202,618 shares of the company's stock valued at $7,146,000 after purchasing an additional 26,725 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hess Midstream in the 2nd quarter worth about $1,691,000. Sanctuary Advisors LLC purchased a new stake in Hess Midstream in the 2nd quarter valued at about $426,000. Algert Global LLC acquired a new position in shares of Hess Midstream during the 2nd quarter valued at about $330,000. Finally, Duff & Phelps Investment Management Co. purchased a new position in shares of Hess Midstream during the 2nd quarter worth about $744,000. 92.41% 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.