Hess Midstream (NYSE:HESM) Hits New 52-Week High – Here’s What Happened

Hess Midstream LP (NYSE:HESM)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $42.31 and last traded at $42.11, with a volume of 444207 shares. The stock had previously closed at $40.68.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Hess Midstream Stock Performance

The company has a market capitalization of $9.18 billion, a P/E ratio of 16.91 and a beta of 1.48. The stock’s fifty day moving average price is $40.36 and its 200-day moving average price is $37.59. 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 released its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (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%. As a group, research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.66%. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Buying and Selling at Hess Midstream

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 legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Hess Midstream

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its holdings in Hess Midstream by 9.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,559 shares of the company’s stock valued at $408,000 after buying an additional 1,032 shares in the last quarter. KBC Group NV grew its stake in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares in the last quarter. Curi RMB Capital LLC grew its stake in shares of Hess Midstream by 7.0% in the third quarter. Curi RMB Capital LLC now owns 10,139 shares of the company’s stock valued at $358,000 after acquiring an additional 660 shares in the last quarter. Empowered Funds LLC increased its position in Hess Midstream by 21.7% during the third quarter. Empowered Funds LLC now owns 72,199 shares of the company’s stock worth $2,546,000 after acquiring an additional 12,888 shares during the period. Finally, Seelaus Asset Management LLC boosted its holdings in Hess Midstream by 5.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock valued at $205,000 after purchasing an additional 300 shares during the period. 98.97% of the stock is 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.