Hess Midstream LP [HESM] stock is trading at $34.64, down -0.32%. An important factor to consider is whether the stock is rising or falling in short-term value. The HESM shares have gain 4.27% over the last week, with a monthly amount glided 4.43%, and seem to be holding up well over a long-time horizon.
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On 5, February 2024, Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A Shares. In a post published today on Yahoo Finance, Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the pricing of the previously announced underwritten public offering of an aggregate of 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the “Selling Shareholder”), resulting in gross proceeds of $331 million, exclusive of any proceeds that may be received in connection with the exercise of the underwriter’s option to purchase additional shares. The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.
From an analyst’s perspective:
Previously, UBS started tracking the stock with Buy rating on May 10, 2023, and set its price target to $37. On April 21, 2023, Raymond James initiated with a Outperform rating and assigned a price target of $35 on the stock. Citigroup started tracking the stock assigning a Buy rating and suggested a price target of $34 on December 09, 2022. Wells Fargo downgraded its rating to a Equal Weight but $33 remained the price target by the analyst firm on March 10, 2022. Morgan Stanley downgraded its rating to Equal-Weight for this stock on January 07, 2022, and upped its price target to $32. In a note dated October 01, 2021, UBS downgraded an Neutral rating on this stock but restated the target price of $29.
Hess Midstream LP [HESM] stock has fluctuated between $25.63 and $34.86 over the past year. Currently, Wall Street analysts expect the stock to reach $34.33 within the next 12 months. Hess Midstream LP [NYSE: HESM] shares were valued at $34.64 at the most recent close of the market. An investor can expect a potential drop of -0.89% based on the average HESM price forecast.
Analyzing the HESM fundamentals
Hess Midstream LP [NYSE:HESM] reported sales of 1.35B for the trailing twelve months, which represents a growth of 13.32%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 34.45 points at the first support level, and at 34.26 for the second support level. However, for the 1st resistance point, the stock is sitting at 34.84, and for the 2nd resistance point, it is at 35.05.
Hess Midstream LP [HESM] reported earnings per share of $0.55 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.63/share, meaning a difference of -$0.08 and a surprise factor of -12.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.57 per share as compared to estimates of $0.55 per share, a difference of $0.02 representing a surprise of 3.60%.
Ratios To Look Out For
For context, Hess Midstream LP’s Current Ratio is 0.79. On the other hand, the Quick Ratio is 0.79, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 1.76, the price to book ratio is 6.45 and price to earnings (TTM) ratio is 16.63.
Transactions by insiders
Recent insider trading involved Global Infrastructure Investor, Director, that happened on Feb 08 when 11.5 million shares were sold. Director, Global Infrastructure Investor completed a deal on Aug 22 to sell 1.5 million shares. Meanwhile, Director Global Infrastructure Investor sold 10.0 million shares on Aug 17.
