Hess Midstream (NYSE:HESM) Sees Strong Trading Volume

Shares of Hess Midstream LP (NYSE:HESM) saw unusually-strong trading volume on Friday . Approximately 507,366 shares were traded during trading, a decline of 8% from the previous session’s volume of 551,396 shares.The stock last traded at $29.29 and had previously closed at $28.90.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HESM shares. Wells Fargo & Company raised their price target on shares of Hess Midstream from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price objective on shares of Hess Midstream in a research note on Tuesday, August 1st. Finally, UBS Group assumed coverage on shares of Hess Midstream in a research note on Wednesday, May 10th. They issued a “buy” rating and a $37.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.80.

Hess Midstream Stock Up 2.4 %

The company has a market cap of $1.68 billion, a P/E ratio of 14.87 and a beta of 1.59. The firm’s 50 day moving average price is $30.34 and its two-hundred day moving average price is $29.07. The company has a debt-to-equity ratio of 7.04, a quick ratio of 0.77 and a current ratio of 0.77.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $324.00 million during the quarter, compared to analyst estimates of $325.31 million. Hess Midstream had a net margin of 7.10% and a return on equity of 18.95%. During the same quarter in the previous year, the business posted $0.50 EPS. Equities research analysts anticipate that Hess Midstream LP will post 2.02 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.6011 per share. This represents a $2.40 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date was Wednesday, August 2nd. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.59. Hess Midstream’s payout ratio is 120.60%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 1,500,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $28.59, for a total transaction of $42,885,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Hess Midstream

A number of hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in Hess Midstream by 4.4% during the 4th quarter. Alps Advisors Inc. now owns 6,476,097 shares of the company’s stock worth $193,765,000 after acquiring an additional 273,980 shares during the last quarter. Energy Income Partners LLC boosted its holdings in shares of Hess Midstream by 3.7% in the 4th quarter. Energy Income Partners LLC now owns 3,287,590 shares of the company’s stock worth $98,365,000 after buying an additional 118,679 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Hess Midstream by 12.7% in the 2nd quarter. Clearbridge Investments LLC now owns 2,372,285 shares of the company’s stock worth $72,782,000 after buying an additional 266,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hess Midstream by 21.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,025,251 shares of the company’s stock worth $58,611,000 after buying an additional 361,133 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Hess Midstream by 50.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,966,157 shares of the company’s stock worth $58,985,000 after buying an additional 659,514 shares during the last quarter. 86.34% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company 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.