Jonathan C. Stein Sells 7,923 Shares of Hess Midstream LP (NYSE:HESM) Stock

Hess Midstream LP (NYSE:HESM) CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hess Midstream Stock Down 1.1 %

HESM traded down $0.39 on Tuesday, hitting $34.79. The company had a trading volume of 412,000 shares, compared to its average volume of 894,544. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 1.11. Hess Midstream LP has a 52-week low of $29.40 and a 52-week high of $39.11. The firm has a market capitalization of $7.68 billion, a P/E ratio of 14.89 and a beta of 1.51. The stock has a fifty day simple moving average of $35.69 and a 200-day simple moving average of $35.96.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. Hess Midstream’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. As a group, equities analysts expect that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.6846 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 7.87%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is presently 116.10%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st.

Institutional Trading of Hess Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hess Midstream in the first quarter valued at about $30,000. Clear Point Advisors Inc. bought a new position in Hess Midstream in the 1st quarter worth $49,000. Tompkins Financial Corp purchased a new position in Hess Midstream in the third quarter worth about $71,000. KBC Group NV increased its position in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after acquiring an additional 385 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.