The Total Return for Hess Midstream (NYSE:HESM) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for Hess Midstream (NYSE:HESM) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Better yet, you'd like to see the share price move up more than the market average. Unfortunately for shareholders, while the Hess Midstream LP (NYSE:HESM) share price is up 62% in the last five years, that's less than the market return. However, if you include the dividends then the return is market beating. Looking at the last year alone, the stock is up 6.9%.
当你长期购买并持有股票时,你肯定希望它能提供正回报。更好的是,你希望看到股价的上涨幅度超过市场平均水平。对于股东来说,不幸的是,尽管Hess Midstream LP(纽约证券交易所代码:HESM)的股价在过去五年中上涨了62%,但仍低于市场回报率。但是,如果将股息包括在内,那么回报将超过市场。仅从去年来看,该股就上涨了6.9%。
Although Hess Midstream has shed US$119m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
尽管Hess Midstream本周市值减少了1.19亿美元,但让我们来看看其长期基本面趋势,看看它们是否推动了回报。
Check out our latest analysis for Hess Midstream
看看我们对 Hess Midstream 的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
在他的文章中 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是合理地反映企业的价值。通过比较每股收益(EPS)和一段时间内的股价变化,我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。
Over half a decade, Hess Midstream managed to grow its earnings per share at 4.2% a year. This EPS growth is slower than the share price growth of 10% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在过去的五年中,Hess Midstream成功地将其每股收益增长了4.2%。每股收益的增长低于同期股价每年10%的增长。这表明,如今,市场参与者对公司的重视程度更高。考虑到五年的收益增长记录,这并不一定令人惊讶。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了 EPS 在一段时间内的跟踪情况(如果你点击图片,你可以看到更多细节)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231209/0-54e477bcc00f29427c270da674bf9d20-0-c753fcfb2fce6a7262533b4a4756b9fb.png/big)
It might be well worthwhile taking a look at our free report on Hess Midstream's earnings, revenue and cash flow.
我们关于Hess Midstream的收益、收入和现金流的免费报告可能值得一看。
What About Dividends?
分红呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Hess Midstream's TSR for the last 5 years was 142%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
除了衡量股价回报外,投资者还应考虑股东总回报(TSR)。股东总回报率是一种回报计算方法,它考虑了现金分红的价值(假设收到的任何股息已被再投资)以及任何贴现资本筹集和分拆的计算价值。可以公平地说,股东总回报率为支付股息的股票提供了更完整的画面。碰巧的是,Hess Midstream在过去5年的股东总回报率为142%,超过了前面提到的股价回报率。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
A Different Perspective
不同的视角
Hess Midstream provided a TSR of 16% over the last twelve months. But that return falls short of the market. If we look back over five years, the returns are even better, coming in at 19% per year for five years. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Hess Midstream (at least 1 which shouldn't be ignored) , and understanding them should be part of your investment process.
在过去的十二个月中,Hess Midstream的股东总回报率为16%。但是这种回报率低于市场。如果我们回顾五年,回报率甚至更高,五年内每年回报率为19%。鉴于随着时间的推移,市场持续受到好评,这很可能是一项值得关注的业务。我发现从长远来看,将股价视为业务表现的代表非常有趣。但是,要真正获得见解,我们还需要考虑其他信息。例如,以永远存在的投资风险幽灵为例。我们已经发现了Hess Midstream的两个警告信号(至少有1个不容忽视),了解它们应该成为您投资过程的一部分。
We will like Hess Midstream better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
如果我们看到一些大规模的内幕买入,我们会更喜欢Hess Midstream。在我们等待的同时,请查看这份免费名单,列出了最近有大量内幕买入的成长型公司。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。