Hess Midstream (NYSE:HESM) Sees Large Volume Increase

Shares of Hess Midstream LP (NYSE:HESM) saw strong trading volume on Tuesday . 542,194 shares traded hands during trading, a decline of 42% from the previous session’s volume of 933,600 shares.The stock last traded at $35.62 and had previously closed at $35.31.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HESM shares. JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group lifted their price objective on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company upped their target price on Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Hess Midstream has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Hess Midstream Price Performance

The company has a 50-day moving average of $35.04 and a 200 day moving average of $33.97. The company has a debt-to-equity ratio of 8.67, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $8.06 billion, a P/E ratio of 15.98 and a beta of 1.49.

Hess Midstream (NYSE:HESM) last issued its earnings results on Thursday, April 25th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $355.60 million for the quarter, compared to the consensus estimate of $354.98 million. Hess Midstream had a net margin of 10.18% and a return on equity of 35.08%. On average, sell-side analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were paid a $0.6516 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.23%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s payout ratio is 118.10%.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Hess Midstream

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Hess Midstream during the 1st quarter worth about $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream in the first quarter valued at approximately $49,000. DekaBank Deutsche Girozentrale acquired a new stake in Hess Midstream in the third quarter worth $41,000. First Horizon Advisors Inc. boosted its position in shares of Hess Midstream by 183.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

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.