HESM Stock Summary and Trading Ideas (Hess Midstream LP Class A Share | NYSE:HESM)

Hess Midstream LP owns, operates, develops, and acquires a diverse set of midstream assets and provides fee-based services to Hess and third-party customers. It conducts its business through three operating segments: gathering, processing and storage, and terminaling and exporting. The company derives the maximum revenue from the gathering segment. Its gathering segment consists of the following assets namely Natural Gas Gathering and Compression; Crude Oil Gathering and Produced Water Gathering and Disposal.

Hess Midstream LP Class A Share trades on the NYSE stock market under the symbol HESM.

As of April 19, 2024, HESM stock price climbed to $35.50 with 134,243 million shares trading.

HESM has a beta of 0.85, meaning it tends to be less sensitive to market movements. HESM has a correlation of 0.23 to the broad based SPY ETF.

HESM has a market cap of $2.84 billion. This is considered a Mid Cap stock.

Last quarter Hess Midstream LP Class A Share reported $357 million in Revenue and $.55 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.08.

In the last 3 years, HESM stock traded as high as $36.84 and as low as $21.89.

The top ETF exchange traded funds that HESM belongs to (by Net Assets): AMLP, MLPA, FCG, EMLP, AMZA.

HESM has outperformed the market in the last year with a price return of +33.3% while the SPY ETF gained +21.3%. HESM has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +11.7% and -2.1%, respectively, while the SPY returned +4.4% and -3.4%, respectively.

HESM support price is $34.47 and resistance is $35.24 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HESM stock will trade within this expected range on the day.