Hess Midstream (NYSE:HESM) Reaches New 1-Year High – Time to Buy?

Hess Midstream LP (NYSE:HESM)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $41.41 and last traded at $41.40, with a volume of 26460 shares traded. The stock had previously closed at $41.28.

Hess Midstream Trading Up 0.7 %

The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 17.56 and a beta of 1.52. The business has a fifty day moving average of $37.13 and a two-hundred day moving average of $36.59. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. During the same period in the prior year, the company earned $0.57 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 6.59%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream’s payout ratio is 116.10%.

Insider Activity at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the 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 in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of Hess Midstream

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Hess Midstream by 18.1% in the second quarter. American Century Companies Inc. now owns 132,450 shares of the company’s stock worth $4,826,000 after buying an additional 20,344 shares during the period. XTX Topco Ltd raised its stake in shares of Hess Midstream by 101.2% during the second quarter. XTX Topco Ltd now owns 18,451 shares of the company’s stock valued at $672,000 after purchasing an additional 9,281 shares during the period. Pacer Advisors Inc. lifted its position in shares of Hess Midstream by 4.0% during the second quarter. Pacer Advisors Inc. now owns 37,543 shares of the company’s stock worth $1,368,000 after purchasing an additional 1,451 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Hess Midstream during the second quarter worth $2,944,000. Finally, ProShare Advisors LLC grew its holdings in Hess Midstream by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after purchasing an additional 323 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

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.