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

Hess Midstream LP (NYSE:HESM) CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Price Performance

NYSE HESM opened at $34.19 on Thursday. The firm’s fifty day simple moving average is $35.61 and its two-hundred day simple moving average is $35.95. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $29.90 and a 12-month high of $39.11. The firm has a market capitalization of $7.55 billion, a P/E ratio of 14.49 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts forecast that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.6846 per share. The ex-dividend date is 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 dividend yield of 8.01%. Hess Midstream’s payout ratio is 115.68%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Hess Midstream

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Hess Midstream during the first quarter valued at $30,000. Clear Point Advisors Inc. acquired a new position in Hess Midstream during the first quarter valued at $49,000. Tompkins Financial Corp acquired a new position in Hess Midstream during the third quarter valued at $71,000. KBC Group NV lifted its position 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 purchasing an additional 1,279 shares during the period. Finally, Brown Brothers Harriman & Co. lifted 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 valued at $119,000 after purchasing an additional 2,793 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

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.