Hess Midstream LP (NYSE:HESM) traded at $17.7 at last check on Friday, Oct 16, making an upward move of 0.8% on its previous day’s price.
Looking at the stock we see that its previous close was $17.56 and the beta (5Y monthly) reads 2.59 with the day’s price range being $17.54 – 18.81. The company has a 12-month trailing PE ratio of 14.53. In terms of its 52-week price range, HESM has a high of $25.66 and a low of $5.7. The company’s stock has gained about 3.81% over that past 30 days.
Hess has a market cap of $4.86 Billion and is expected to release its quarterly earnings report on October 28, 2020. With its Forward Dividend at 1.75 and a yield of 9.89%, the company’s investors could be anxious for the HESM stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.35, with the EPS growth for the year raised at $1.41 for 2020 and $1.9 for next year. These figures represent 0.18% and at 0.35% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $262.95 Million, with a low of $256.6 Million and a high of $268.75 Million. The median projection represents growth adding up to 37.6% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $1.09 Billion, or +28.5% up from figures reported last year.
There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the HESM stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 7 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Hess Midstream LP (HESM) stock as a Hold, while 6 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the HESM stock currently stands at 2.24, and the current price level is 11.44% off its SMA20 and 3.9% from its 50-day simple moving average. The RSI (14) is pointing at 66.62 while the volatility over the past week is 4.04% and drops to 4% over the past one month. The beta value is 2.59, while the average true range (ATR) is currently pointing at 0.65. The average price target for the stock over the next 12 months is $20.86, with the estimates having a low of $19 and a high of $22. These price ends are 7.34% and +24.29% off the current price level respectively, although investors could be excited at the prospect of a +24.29% if the HESM share price touches on the median price of $22.
Let’s briefly compare Hess (HESM) stock to its peers. We find that today’s price change of +0.8% and -16.11% over the past 12 months for HESM betters that of Black Stone Minerals LP (BSM), which has seen its stock price fall -3.26% in the latest trading session and is -53.02% over the last one year. Another of its peers Cypress Energy Partners LP (CELP) has dropped -0.46% today, but is -76.38% down over the past year. Black has a P/E ratio of 8.19 compared to Hess 14.53 and Cypress 18.31. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are higher today at 0.0001% and 0.0039% in early deals.
Coming back to Hess Midstream LP (NYSE:HESM), we note that the average 3-month trading volume was 118.35 Million, while that of the preceding 10-day period stands at 130.26 Million. Current shares outstanding are 18.03 Million.
According to data from Thomson Reuters, insiders hold 38.88% of the company’s shares while institutions hold 71.33%. The data shows that short shares as of September 29, 2020, stood at 700.64 Million at a short ratio of 7.1. This represents a 3.89% Short interest in Shares outstanding on September 29, 2020. Shares short dropped in September from the previous month at 982.15 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -21.96% down in year-to-date price movement.