Insider Selling: Hess Midstream LP (NYSE:HESM) CFO Sells $279,840.36 in Stock

Hess Midstream LP (NYSE:HESM) CFO Jonathan C. Stein sold 7,923 shares of the company’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 owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hess Midstream Price Performance

Shares of HESM opened at $35.18 on Friday. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 14.91 and a beta of 1.51. The firm’s fifty day simple moving average is $35.59 and its 200-day simple moving average is $35.94. 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 twelve month low of $30.05 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. Equities 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 was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.6846 dividend. This represents a $2.74 annualized dividend and a yield of 7.78%. The ex-dividend date was Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is currently 116.10%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On Hess Midstream

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hess Midstream in the 1st quarter valued at about $30,000. Clear Point Advisors Inc. purchased a new position in shares of Hess Midstream during the first quarter worth approximately $49,000. Tompkins Financial Corp acquired a new position in shares of Hess Midstream in the 3rd quarter valued at $71,000. KBC Group NV increased its stake in Hess Midstream by 83.9% in 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, Icon Wealth Advisors LLC increased its stake in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 92.41% 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.