A share price of Hess Midstream LP [HESM] is currently trading at $35.07, up 1.15%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The HESM shares have gain 3.09% over the last week, with a monthly amount glided 2.45%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, Hess Midstream LP Announces Filing of 2023 Annual Report on Form 10-K. In a post published today on Yahoo Finance, Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 29, 2024. A copy of the annual report is available on Hess Midstream’s website, www.hessmidstream.com, by selecting “Investors” and then “SEC Filings.”.
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 experienced fluctuations in its stock price throughout the past year between $25.63 and $34.90. 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 $35.07 at the most recent close of the market. An investor can expect a potential drop of -2.11% based on the average HESM price forecast.
Analyzing the HESM fundamentals
Trailing Twelve Months sales for Hess Midstream LP [NYSE:HESM] were 1.35B which represents 13.32% growth. Gross Profit Margin for this corporation currently stands at 0.79% with Operating Profit Margin at 0.61%, Pretax Profit Margin comes in at 0.48%, and Net Profit Margin reading is 0.18%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is 0.58 and Total Capital is 0.23. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 9.44.
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 34.72 points at the first support level, and at 34.37 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.37, and for the 2nd resistance point, it is at 35.67.
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
To put it in perspective, the Current Ratio for Hess Midstream LP [NYSE:HESM] is 0.65. Further, the Quick Ratio stands at 0.65, while the Cash Ratio is 0.03. Considering the valuation of this stock, the price to sales ratio is 2.08, the price to book ratio is 7.05 and price to earnings (TTM) ratio is 16.84.
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.
