Hess Midstream LP (NYSE:HESM - Get Free Report) CFO Jonathan C. Stein sold 7,923 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Hess Midstream Trading Down 1.1 %
NYSE:HESM opened at $34.79 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 52-week low of $29.40 and a 52-week high of $39.11. The stock's 50 day moving average price is $35.65 and its 200 day moving average price is $35.96. The company has a market capitalization of $7.68 billion, a PE ratio of 14.74 and a beta of 1.51.
Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same period last year, the firm posted $0.57 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current year.
Hess Midstream Increases Dividend
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.87%. This is a boost from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, November 7th. Hess Midstream's dividend payout ratio is presently 116.10%.
Institutional Investors Weigh In On Hess Midstream
Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Hess Midstream in the 1st quarter valued at about $30,000. Illinois Municipal Retirement Fund purchased a new position in shares of Hess Midstream in the 1st quarter valued at approximately $1,214,000. Swiss National Bank increased its holdings in shares of Hess Midstream by 14.8% in the first quarter. Swiss National Bank now owns 154,600 shares of the company's stock valued at $5,586,000 after purchasing an additional 19,900 shares during the period. ProShare Advisors LLC raised its stake in shares of Hess Midstream by 5.2% during the first quarter. ProShare Advisors LLC now owns 6,746 shares of the company's stock worth $244,000 after purchasing an additional 332 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Hess Midstream by 33.1% during the first quarter. TD Asset Management Inc now owns 3,109,076 shares of the company's stock worth $112,331,000 after purchasing an additional 773,119 shares during the period. Institutional investors and hedge funds own 92.41% of the company's stock.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. boosted their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st.
Get Our Latest Stock Analysis on Hess Midstream
About Hess Midstream
(
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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.
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