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

Hess Midstream LP (NYSE:HESM) CFO Jonathan C. Stein sold 7,923 shares of the firm’s 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 sale, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hess Midstream Trading Down 1.1 %

NYSE:HESM opened at $34.79 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 52-week low of $29.40 and a 52-week high of $39.11. The stock’s 50 day moving average price is $35.65 and its 200 day moving average price is $35.96. The company has a market capitalization of $7.68 billion, a PE ratio of 14.74 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last announced its earnings results 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 business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same period last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

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

Institutional Investors Weigh In On Hess Midstream

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Hess Midstream in the 1st quarter valued at about $30,000. Illinois Municipal Retirement Fund purchased a new position in shares of Hess Midstream in the 1st quarter valued at approximately $1,214,000. Swiss National Bank increased its holdings in shares of Hess Midstream by 14.8% in the first quarter. Swiss National Bank now owns 154,600 shares of the company’s stock valued at $5,586,000 after purchasing an additional 19,900 shares during the period. ProShare Advisors LLC raised its stake in shares of Hess Midstream by 5.2% during the first quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock worth $244,000 after purchasing an additional 332 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Hess Midstream by 33.1% during the first quarter. TD Asset Management Inc now owns 3,109,076 shares of the company’s stock worth $112,331,000 after purchasing an additional 773,119 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analysts Set New Price Targets

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

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.