Insider Selling: Hess Midstream LP (NYSE:HESM) CFO Sells 7,923 Shares of Stock

Hess Midstream LP (NYSE:HESM) CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Stock Up 2.9 %

Shares of NYSE:HESM opened at $35.18 on Friday. Hess Midstream LP has a 52-week low of $30.05 and a 52-week high of $39.11. The company has a 50 day moving average of $35.59 and a two-hundred day moving average of $35.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 14.91 and a beta of 1.51.

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

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.74 annualized dividend and a dividend yield of 7.78%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is currently 116.10%.

Institutional Investors Weigh In On Hess Midstream

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report 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.