Hess Midstream (NYSE:HESM) Stock Price Down 2.7% – Time to Sell?

Shares of Hess Midstream LP (NYSE:HESM) dropped 2.7% on Thursday . The company traded as low as $36.25 and last traded at $36.29. Approximately 446,042 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 892,336 shares. The stock had previously closed at $37.30.

Hess Midstream Stock Performance

The company has a 50-day moving average of $36.01 and a 200-day moving average of $36.30. The company has a market cap of $7.97 billion, a PE ratio of 15.48 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.6846 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 annualized dividend and a dividend yield of 7.49%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is currently 115.68%.

Insider Activity at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred 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 directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Hess Midstream

Institutional investors have recently bought and sold shares of the company. Tompkins Financial Corp bought a new stake in shares of Hess Midstream in the third quarter valued at $71,000. KBC Group NV raised its stake in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares during the period. Millburn Ridgefield Corp purchased a new stake in Hess Midstream during the third quarter valued at about $100,000. Icon Wealth Advisors LLC lifted its holdings in Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Hess Midstream by 487.4% during the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares during the period. Hedge funds and other institutional investors own 98.97% 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.