Hess Midstream (NYSE:HESM) Hits New 52-Week High – Time to Buy?

Hess Midstream LP (NYSE:HESM)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $42.31 and last traded at $42.11, with a volume of 444207 shares traded. The stock had previously closed at $40.68.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HESM shares. Wells Fargo & Company upped their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Citigroup raised their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James upped their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Hess Midstream Stock Performance

The firm has a 50-day simple moving average of $40.21 and a two-hundred day simple moving average of $37.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 16.91 and a beta of 1.48.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, sell-side analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.66%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is presently 112.45%.

Insiders Place Their Bets

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Hess Midstream

A number of institutional investors have recently modified their holdings of the company. Entropy Technologies LP boosted its holdings in shares of Hess Midstream by 33.2% during the 3rd quarter. Entropy Technologies LP now owns 28,691 shares of the company’s stock worth $1,012,000 after buying an additional 7,150 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Hess Midstream by 9.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,559 shares of the company’s stock worth $408,000 after acquiring an additional 1,032 shares during the last quarter. KBC Group NV boosted its holdings in Hess Midstream by 83.9% during the third 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. Curi RMB Capital LLC grew its position in shares of Hess Midstream by 7.0% in the third quarter. Curi RMB Capital LLC now owns 10,139 shares of the company’s stock valued at $358,000 after purchasing an additional 660 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Hess Midstream by 21.7% in the third quarter. Empowered Funds LLC now owns 72,199 shares of the company’s stock worth $2,546,000 after purchasing an additional 12,888 shares during the period. 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.