Hess Midstream (NYSE:HESM) Reaches New 1-Year High – Time to Buy?

Hess Midstream LP (NYSE:HESM)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $41.41 and last traded at $41.40, with a volume of 26460 shares traded. The stock had previously closed at $41.28.

Hess Midstream Stock Performance

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 firm has a market cap of $8.89 billion, a P/E ratio of 17.28 and a beta of 1.52. The stock’s 50 day moving average is $37.39 and its two-hundred day moving average is $36.64.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 6.72%. Hess Midstream’s dividend payout ratio is 116.10%.

Insiders Place Their Bets

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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Yaupon Capital Management LP acquired a new position in shares of Hess Midstream during the 3rd quarter worth about $44,088,000. Soros Fund Management LLC bought a new position in Hess Midstream during the 3rd quarter worth approximately $14,108,000. Kayne Anderson Capital Advisors LP grew its holdings in Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares during the period. Seven Grand Managers LLC bought a new stake in Hess Midstream in the third quarter valued at approximately $6,349,000. Finally, Nordea Investment Management AB raised its holdings in Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after purchasing an additional 134,171 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

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.