Hess Midstream LP (NYSE:HESM) currently has a daily average trading volume of 457.20K but it saw 361257 shares traded on Wednesday. With a market cap of 7.81B USD, stock’s current market price of $29.90 came rising about 0.84 while comparing to the previous closing price of $29.65. In past 52 weeks, the stock remained buoying in the range of price level as high as $35.71 and as low as $23.81. In the recent trading on the day, stock has struck highest price mark of $29.95 while lowest mark touched by it was $29.34.
Taking a look at 20-day trading activity of Hess Midstream LP (HESM) gives us an average price of $28.82, while its current price level is -16.27% below from 52-week high level whereas it is 25.58% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $27.54 while that of 200 days or SMA-200 reads an average of $29.60. A closer look into the stock’s movement over the week reveals that its volatility is standing at 2.75% during that period while stretching the period over a month that increases to 2.95%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 62.42 which implies that the stock is in neutral territory.
Hess Midstream LP (HESM)’s stock is currently under the radar of 4 analysts who are in consensus at a 12-month price target range of between $32.00 and $36.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $32.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $36.00. Average price target assigned by them is $34.00 which highlights an upside potential of 12.06% for the stock over that period. And to attain the median price target of $34.00 assigned by those analysts, stock has to add about 12.06% of value to its current levels.
Data by FactSet Research shows that 4 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 2 analysts suggested the investors to Buy the stock while 2 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Wells Fargo which downgraded the stock as “Equal Weight” in its note to investors issued on March 10, 2022, recommending a price target of $33 for it. Morgan Stanley downgraded its recommendation for the stock as a “Equal-Weight” from “Overweight” on January 07, 2022 while assigning a price target range of $31-$32. UBS also issued its recommendations for the stock as it downgraded the price target for the stock is $29.
Over the week, HESM’s stock price is moving 4.91% up while it is 9.00% when we observe its performance for the past one month. Year-to-date it is 8.22% up and over the past year, the stock is showing an upside performance of 18.56%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2022, when its quarterly earnings per share (EPS) of $0.53 beat the consensus estimate of $0.52 for the same. The company is expected to be releasing its next quarterly report in 01/25/2023, for which analysts forecasted an EPS of $0.54 while estimate for next year EPS is $2.05. For HESM, analysts are forecasting an EPS-growth rate of 16.50% for current year and estimate for EPS growth in next year is 20.00%. In next quarter, company is expected to be making quarterly sales of $335.13 million as analysts are expecting the sales for current fiscal year at $1.18 billion and seeing the company making $1.31 billion in sales next year. Moreover, analysts are in estimates of $323.53 million for current-quarter revenue.
Currently, Hess Midstream LP’s total number of outstanding shares is 44.00M with 2.58% of that held by the insiders while 88.86% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 25.70% and return on equity (ROE) at 34.90%. It has a price to earnings ratio (P/E ratio) of 14.66 while having a 12.76 of forward P/E ratio. Stock’s beta reads 1.63. Stock has a price to book (P/B) ratio of 5.31 while price to sale or P/S ratio amounts to 6.12. Its return on asset (ROA) is 2.20% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Alerian MLP ETF came shrinking its share ownership by 0.34% in the Hess Midstream LP (HESM) increasing its stake to 14.52% with control over 21406.0 shares in the company. As per SEC documents, Alerian MLP ETF sought 6,388,676 of company’s common stock of worth $184.89 million as per recent closing price of the stock. Alerian MLP ETF is not the only institutional holder which restructured its stake in Hess Midstream LP, as First Trust Natural Gas ETF picked 1,586,882 shares of worth $45.92 million to bring its holdings to a total of 16728.0 shares.