Hess Midstream (NYSE:HESM) Hits New 12-Month High at $36.57

Hess Midstream LP (NYSE:HESM - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $36.57 and last traded at $36.54, with a volume of 35361 shares trading hands. The stock had previously closed at $36.09.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Hess Midstream from an "overweight" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Friday, March 8th. UBS Group raised their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.50.

Hess Midstream Price Performance

The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. The stock's 50 day simple moving average is $34.53 and its two-hundred day simple moving average is $32.12. The firm has a market capitalization of $8.26 billion, a PE ratio of 17.46 and a beta of 1.50.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.05). The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The firm's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, sell-side analysts forecast that Hess Midstream LP will post 2.55 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were issued a dividend of $0.6343 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.54 dividend on an annualized basis and a dividend yield of 6.95%. This is an increase from Hess Midstream's previous quarterly dividend of $0.62. Hess Midstream's dividend payout ratio (DPR) is currently 121.53%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Hess Midstream

Several institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. increased its holdings in Hess Midstream by 6.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock valued at $174,000 after purchasing an additional 358 shares during the last quarter. Legal & General Group Plc increased its holdings in Hess Midstream by 3.2% in the 4th quarter. Legal & General Group Plc now owns 11,672 shares of the company's stock valued at $349,000 after purchasing an additional 360 shares during the last quarter. California State Teachers Retirement System increased its holdings in Hess Midstream by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 28,844 shares of the company's stock valued at $865,000 after purchasing an additional 411 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in Hess Midstream by 5.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company's stock valued at $283,000 after purchasing an additional 484 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in Hess Midstream by 5.6% in the 1st quarter. Guggenheim Capital LLC now owns 9,602 shares of the company's stock valued at $288,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

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.