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 Hess Midstream stock in a transaction on Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hess Midstream Trading Up 0.1%

Shares of Hess Midstream stock traded up $0.05 during trading hours on Thursday, reaching $39.33. The stock had a trading volume of 366,289 shares, compared to its average volume of 1,004,936. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 15.80 and a beta of 0.63. Hess Midstream LP has a 1 year low of $33.59 and a 1 year high of $44.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a 50 day simple moving average of $37.63 and a two-hundred day simple moving average of $38.89.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Hess Midstream's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio (DPR) is currently 110.98%.

Hedge Funds Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its position in Hess Midstream by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after purchasing an additional 298 shares during the period. ProShare Advisors LLC raised its holdings in shares of Hess Midstream by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after buying an additional 429 shares during the period. Virtus ETF Advisers LLC lifted its position in Hess Midstream by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares in the last quarter. WBI Investments LLC lifted its position in Hess Midstream by 2.5% during the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company's stock worth $678,000 after acquiring an additional 446 shares in the last quarter. Finally, Hardy Reed LLC boosted its holdings in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock worth $333,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup upped their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hess Midstream 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.