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

Hess Midstream LP (NYSE:HESM - Get Free Report) Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hess Midstream Trading Up 0.2%

Shares of NYSE:HESM traded up $0.06 during midday trading on Friday, reaching $39.51. The company's stock had a trading volume of 1,788,192 shares, compared to its average volume of 1,008,012. Hess Midstream LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 15.87 and a beta of 0.63. The firm has a 50 day moving average price of $37.78 and a two-hundred day moving average price of $38.93. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same period in the previous year, the company posted $0.60 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.84 annualized dividend and a dividend yield of 7.19%. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio is currently 110.98%.

Institutional Investors Weigh In On Hess Midstream

Institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. increased its holdings in shares of Hess Midstream by 31.1% in the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after buying an additional 6,251,664 shares during the period. Artemis Investment Management LLP boosted its position in Hess Midstream by 131.4% during the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after acquiring an additional 1,118,245 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Hess Midstream during the 1st quarter valued at approximately $29,640,000. Goldman Sachs Group Inc. boosted its position in shares of Hess Midstream by 10.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock worth $305,916,000 after purchasing an additional 655,062 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in Hess Midstream in the 4th quarter worth approximately $23,415,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Finally, Citigroup raised 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hess Midstream presently has a consensus rating of "Moderate Buy" and a consensus target price 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.