The stock of Hess Midstream LP (NYSE:HESM) decreased by -$1.71 on Wednesday to $28.94, down -5.58 percent. The last five days have seen an average of 766,053 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$1.03. The average number of shares traded over the last 20 days was 564,548, while the average volume over the last 50 days totaled 579,133.
HESM stock dropped -5.55% since last month. On 08/16/23, the company’s shares reached a one-month low of $28.75. The stock touched a high of $32.43 on 07/26/23, after rallying from a low of $24.33 in 52 weeks. The price of HESM stock has declined by -3.28% or -$1.03 this year, reaching a new high 7 times. Still, the stock price is down -10.76% from the 52-week high.
Insider Transactions
HESM stock investors should be aware that Hess Midstream LP (HESM) stock had its last reported insider trading activity 89 days ago on May 19. On May 19, Director Global Infrastructure Investor sold 6,382,500 shares at $26.12 each. This transaction resulted in the insider making $166,710,900. On May 19, HESS CORP sold 6,382,500 shares at a price of US$26.12. After the transaction, the insider now owns 0 shares. Chief Financial Officer Stein Jonathan C. had earlier sold 3,973 shares on Mar 13 for $27.38 a share. The transaction was completed for $108,781.
Valuation Metrics
Hess Midstream LP (HESM) has a trailing price-to-earnings (P/E) ratio of 14.54. Beta for the stock is 1.57. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.26, the price-to-book (PB) ratio of 4.80, and the price-to-cash flow ratio of 10.74.
Company paid $0.6011 per share in dividends, an increase of 2.73% from $0.5851 last year. A $0.0160 dividend increase was reported on Monday July 24 2023.
Financial Health
For the three months ended June 29, Hess Midstream LP’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 10.13, and the total debt to equity ratio is 10.16. Hess Midstream LP’s EBITDA margin for the year ended June 29 was 76.26%, whereas its operating margin stood at 61.60% for the same period. Based on annual data, it had gross profit of $791.2 million and revenue of $1.28 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. HESM’s return on assets (ROA) during the last 12 months has been 2.50%. There was a 24.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 35.50%.
Earnings Surprise
According to Hess Midstream LP’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $324.0 million, while revenues rose by 3.27% to $305.0 million. It was predicted that Hess Midstream LP’s quarterly earnings would be $0.5, but it ended up being $0.48, beating the consensus by 4.20%. EBITDA was $247.2 million for the quarter. At the end of Hess Midstream LP’s most recent quarter ended June 29, its liabilities totaled 3.22 billion, while its total debt was $3.07 billion. Equity owned by shareholders amounts to $56.86 million.
Technical Picture
Here’s a quick look at Hess Midstream LP’s (HESM) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 24.18%, suggesting the stock is oversold, with a 30.75% historical volatility rate.
The stochastic %K and %D were 27.19% and 36.15% respectively, while the average true range (ATR) was 0.69. Based on the 14-day stochastic reading of 4.98%, the RSI (14) reading is 32.35%. On the 9-day MACD Oscillator, the stock is at -0.50, and the 14-day reading is at -0.65.
Analyst Ratings
In its analyst report released on May 10, 2023, UBS began covering Hess Midstream LP (NYSE: HESM). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Hess Midstream LP (HESM) an Overweight rating. HESM is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is HESM’s price target for the next 12 months?
The current consensus forecast for the stock is between $32.00 and $37.00, with a median target price of $35.00. In analyzing these forecasts, the average price target given by analysts for Hess Midstream LP (HESM) is $34.83.
