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

Hess Midstream LP (NYSE:HESM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.42 and last traded at $39.38, with a volume of 44235 shares trading hands. The stock had previously closed at $38.87.

Hess Midstream Stock Performance

The company has a market cap of $8.60 billion, a P/E ratio of 16.72 and a beta of 1.52. The stock’s 50-day moving average price is $36.79 and its 200-day moving average price is $36.51. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM) 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 firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate that Hess Midstream LP will post 2.41 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 6.94%. Hess Midstream’s payout ratio is currently 116.10%.

Insider Transactions at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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 accessible through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. A. D. Beadell Investment Counsel Inc. boosted its holdings in shares of Hess Midstream by 23.7% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 29,460 shares of the company’s stock valued at $1,090,000 after purchasing an additional 5,650 shares in the last quarter. Nordea Investment Management AB boosted its stake in Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after buying an additional 134,171 shares in the last quarter. Sanctuary Advisors LLC grew its position in Hess Midstream by 4.6% in the third quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company’s stock valued at $469,000 after acquiring an additional 561 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Hess Midstream during the third quarter worth about $455,000. Finally, M&T Bank Corp bought a new position in shares of Hess Midstream in the third quarter worth about $1,058,000. 98.97% of the stock is currently 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.