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

Shares of Hess Midstream LP (NYSE:HESM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.05 and last traded at $43.87, with a volume of 1352882 shares. The stock had previously closed at $43.21.

Wall Street Analysts Forecast Growth

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

Hess Midstream Price Performance

The company’s 50 day moving average is $40.88 and its 200-day moving average is $37.81. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 17.15 and a beta of 1.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 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%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.57%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is 112.45%.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of Hess Midstream

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its position in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after purchasing an additional 579 shares during the last quarter. US Bancorp DE raised its holdings in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 510 shares in the last quarter. KBC Group NV lifted its position in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after purchasing an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Hess Midstream during the 3rd quarter worth $100,000. Finally, IFP Advisors Inc boosted its holdings in shares of Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after purchasing an additional 733 shares in the last quarter. Institutional investors and hedge funds 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.