As of Thursday close, Hess Midstream LP’s (NYSE:HESM) stock was down -$0.89, moving down -2.91 percent to $29.70. The average number of shares traded per day over the past five days has been 1,366,700 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.37 fall in that time frame. In the last twenty days, the average volume was 739,655, while in the previous 50 days, it was 695,448.
Since last month, HESM stock rose 2.63%. Shares of the company fell to $28.52 on 08/23/23, the lowest level in the past month. A 52-week high of $32.43 was reached on 07/26/23 after having rallying from a 52-week low of $24.33. Since the beginning of this year, HESM’s stock price has dropped by -0.74% or -$0.22, and marked a new high 7 times. However, the stock has declined by -8.42% since its 52-week high.
HESM stock investors should be aware that Hess Midstream LP (HESM) stock had its last reported insider trading activity 31 days ago on Aug 22. Global Infrastructure Investor, the Director of the company, disposed of 1,500,000 shares for $28.59 on Aug 22. It resulted in a $42,885,000 divestment by the insider. Global Infrastructure Investor sold 10,000,000 shares at an average price of $28.59 on Aug 17. The insider now owns 0 shares following the transaction. On May 19, Director Global Infrastructure Investor sold 6,382,500 shares at $26.12 apiece. The transaction was valued at $166,710,900.
Valuation Metrics
Right now, Hess Midstream LP (HESM) has a P/E ratio of about 14.92. The stock’s beta is 1.57. Besides these, the trailing price-to-sales (P/S) ratio of 5.37, the price-to-book (PB) ratio of 4.93, and the price-to-cash flow ratio of 10.98 may also be considered.
The latest dividend of $0.6011 per share was paid out, which is 2.73% more than last year’s $0.5851. On Monday July 24 2023, a $0.0160 dividend increase was announced.
Financial Health
In the three months ended June 29, Hess Midstream LP’s quick ratio stood at 0.80, while its current ratio was 0.80, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 10.13, and the total debt-to-equity ratio was 10.16. In the year ended June 29, EBITDA margin amounted to 76.26%, whereas operating margins totaled 61.60%. Based on annual data, HESM earned $791.2 million in gross profit and brought in $1.28 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 24.40%. Return on equity (ROE) for the past 12 months was 35.50%.
In Hess Midstream LP’s quarter-end financial report for June 29, it reported total debt of $3.06 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. HESM’s revenue rose 3.27% to $305.0 million during the quarter, while net income inched up to $324.0 million. While analysts expected Hess Midstream LP to report $0.48 quarterly earnings, the actual figure was $0.5 per share, beating the consensus estimate by 4.20%. During the quarter, the company generated $247.2 million in EBITDA. The liabilities of Hess Midstream LP were 3.22 billion at the end of its most recent quarter ended June 29, and its total debt was $3.07 billion. The value of shareholders’ equity is $56.86 million.
Technical Picture
This quick technical analysis looks at Hess Midstream LP’s (HESM) price momentum. With a historical volatility rate of 19.23%, the RSI 9-day stood at 46.62% on 21 September.
With respect to its five-day moving average, the current Hess Midstream LP price is down by -1.23% percent or -$0.37. At present, HESM shares trade +2.45% above its 20-day simple moving average and +1.23% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.62% below its SMA50 and -3.48% below its SMA200.
Stochastic coefficient K was 63.09% and Stochastic coefficient D was 77.21%, while ATR was 0.59. Given the Stochastic reading of 33.18% for the 14-day period, the RSI (14) reading has been calculated as 48.12%. As of today, the MACD Oscillator reading stands at 0.15, while the 14-day reading stands at 0.36.
With a median target price of $35.00, the current consensus forecast for the stock is $32.00 – $37.00. Based on these forecasts, analysts predict Hess Midstream LP (HESM) will achieve an average price target of $34.83.
