Hess Midstream LP (NYSE:HESM) Director Sells $127,035.90 in Stock

Hess Midstream LP (NYSE:HESM) Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream stock in a transaction on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Price Performance

Hess Midstream stock opened at $38.84 on Wednesday. Hess Midstream LP has a 52 week low of $33.59 and a 52 week high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm’s 50-day simple moving average is $37.59 and its 200 day simple moving average is $38.89. The firm has a market capitalization of $8.37 billion, a PE ratio of 15.60 and a beta of 0.63.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The business had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were paid a $0.7098 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 annualized dividend and a yield of 7.31%. Hess Midstream’s payout ratio is presently 110.98%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream in the 1st quarter valued at about $31,000. Farther Finance Advisors LLC raised its stake in Hess Midstream by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $45,000 after purchasing an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after purchasing an additional 579 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in Hess Midstream in the 1st quarter valued at about $58,000. Finally, US Bancorp DE raised its stake in 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 purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HESM. Citigroup boosted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company decreased their target price on shares of Hess Midstream from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.80.

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.