Hess Midstream LP (NYSE:HESM - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $38.19, but opened at $37.40. Hess Midstream shares last traded at $37.21, with a volume of 1,284,174 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on HESM shares. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company lowered their price target on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Citigroup boosted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hess Midstream currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.
Get Our Latest Research Report on Hess Midstream
Hess Midstream Trading Down 0.9%
The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 14.84 and a beta of 0.67. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The business's 50-day simple moving average is $38.16 and its two-hundred day simple moving average is $38.75.
Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $382.00 million for the quarter, compared to analysts' expectations 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 was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. On average, research analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream's payout ratio is presently 110.98%.
Insider Transactions at Hess Midstream
In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Hedge Funds Weigh In On Hess Midstream
Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in Hess Midstream by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,970 shares of the company's stock valued at $517,000 after acquiring an additional 1,024 shares during the last quarter. KBC Group NV raised its position in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after acquiring an additional 2,243 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Hess Midstream by 26.1% during the fourth quarter. Pacer Advisors Inc. now owns 50,654 shares of the company's stock valued at $1,876,000 after purchasing an additional 10,492 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Hess Midstream in the fourth quarter worth $324,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Hess Midstream in the fourth quarter worth $8,786,000. Institutional investors own 98.97% of the company's stock.
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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