KLP Kapitalforvaltning AS Invests $1.54 Million in Hess Midstream LP (NYSE:HESM)

KLP Kapitalforvaltning AS acquired a new stake in Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,600 shares of the company's stock, valued at approximately $1,540,000.

Other institutional investors also recently bought and sold shares of the company. Yaupon Capital Management LP acquired a new position in Hess Midstream in the third quarter valued at about $44,088,000. Artemis Investment Management LLP lifted its holdings in shares of Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after acquiring an additional 90,521 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its position in shares of Hess Midstream by 24.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company's stock worth $21,683,000 after purchasing an additional 121,342 shares during the period. Jennison Associates LLC increased its holdings in Hess Midstream by 34.7% in the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock valued at $21,755,000 after purchasing an additional 151,220 shares during the last quarter. Finally, FMR LLC raised its position in Hess Midstream by 4.6% in the third quarter. FMR LLC now owns 539,518 shares of the company's stock valued at $19,029,000 after purchasing an additional 23,700 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Stock Up 1.1 %

NYSE HESM traded up $0.47 during trading hours on Wednesday, hitting $42.92. 574,216 shares of the company were exchanged, compared to its average volume of 971,853. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $44.05. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 17.24 and a beta of 1.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a 50 day moving average of $41.25 and a two-hundred day moving average of $38.19.

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Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.53%. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.

Analyst Upgrades and Downgrades

HESM has been the subject of a number of research reports. Citigroup lifted their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James lifted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

About Hess Midstream

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.