Hess Midstream LP (NYSE:HESM) shares traded 2.28% higher at $31.82 on Wall Street last session.
In accordance with the data, 5 analysts cover Hess Midstream LP (NYSE:HESM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $36.00 and a low of $31.00, we find $34.00. Given the previous closing price of $31.11, this indicates a potential upside of 9.29 percent. HESM stock price is now 6.71% away from the 50-day moving average and 8.13% away from the 200-day moving average. The market capitalization of the company currently stands at $8.45B.
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It has been rated a hold by 2 analysts and a buy by 3. Brokers who have rated the stock have averaged $34.00 as their price target over the next twelve months.
With the price target of $34, Citigroup recently initiated with Buy rating for Hess Midstream LP (NYSE: HESM). On March 10, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock keeping its target price maintained at $33, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, Schoonman Geurt G, Director bought 3,249 shares of the company’s stock on May 06. The stock was bought for $99,987 at an average price of $30.77. Upon completion of the transaction, the Director now directly owns 3,249 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 04, Director Global Infrastructure Investor sold 5,117,500 shares of the business’s stock. A total of $145,833,398 was realized by selling the stock at an average price of $28.50. Insiders disposed of 42,483 shares of company stock worth roughly $1.35 million over the past 1 year. A total of 2.58% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HESM stock. A new stake in Hess Midstream LP shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $7,160,000. INFRASTRUCTURE CAPITAL ADVISORS, LLC invested $2,453,000 in shares of HESM during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Hess Midstream LP valued at approximately $1,900,000. TWINBEECH CAPITAL LP acquired a new stake in HESM for approximately $1,283,000. SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC purchased a new stake in HESM valued at around $1,224,000 in the second quarter. In total, there are 197 active investors with 89.50% ownership of the company’s stock.
Hess Midstream LP (NYSE: HESM) opened at $31.25 on Monday. During the past 12 months, Hess Midstream LP has had a low of $24.33 and a high of $35.71. As of last week, the company has a debt-to-equity ratio of 11.74, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for HESM is $29.82 and a two-hundred day moving average price translates $29.43 for the stock.
The latest earnings results from Hess Midstream LP (NYSE: HESM) was released for Sep, 2022. According to the Oil & Gas Midstream Company, earnings per share came in at $0.53, beating analysts’ expectations of $0.52 by 0.01. This compares to $1.77 EPS in the same period last year. The net profit margin was 6.20% and return on equity was 34.90% for HESM. The company reported revenue of $195.4 million for the quarter, compared to $169.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.28 percent. For the current quarter, analysts expect HESM to generate $323.53M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/14/2022. Investors who held shares on 11/03/2022 were paid a $0.5627 dividend. On an annualized basis, this represents a $2.25 dividend and a 7.07% percent yield. There was an ex-dividend date of 11/02/2022 for this dividend. In terms of dividend payout ratio, HESM is presently at 104.40%.
Hess Midstream LP(HESM) 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; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,350 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 450 million cubic feet per day; and crude oil gathering system comprises approximately 550 miles of crude oil gathering pipelines. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; a 50% interest in the Little Missouri 4 gas processing plant located in south of the Missouri River in McKenzie County, North Dakota; and Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars, as well as Johnson’s Corner Header System, a crude oil pipeline header system. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.
