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Algert Global LLC Grows Stock Position in Hess Midstream LP (NYSE:HESM)

Hess Midstream logo with Oils/Energy background

Algert Global LLC boosted its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 1,215.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,105 shares of the company's stock after acquiring an additional 110,050 shares during the period. Algert Global LLC owned about 0.05% of Hess Midstream worth $4,201,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clear Point Advisors Inc. acquired a new stake in Hess Midstream during the 1st quarter valued at $49,000. Tompkins Financial Corp acquired a new stake in shares of Hess Midstream during the third quarter valued at $71,000. KBC Group NV increased its position in Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company's stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Comerica Bank raised its stake in Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company's stock valued at $201,000 after purchasing an additional 385 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its holdings in Hess Midstream by 5.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company's stock valued at $205,000 after purchasing an additional 300 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st.

Check Out Our Latest Stock Report on Hess Midstream

Insider Activity at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Hess Midstream Trading Down 0.4 %

Hess Midstream stock traded down $0.16 during trading on Monday, hitting $36.62. The company's stock had a trading volume of 1,058,014 shares, compared to its average volume of 889,914. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 15.52 and a beta of 1.51. The stock's fifty day moving average is $35.61 and its 200 day moving average is $36.05. Hess Midstream LP has a 1-year low of $30.08 and a 1-year high of $39.11.

Hess Midstream (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business had revenue of $378.50 million for the quarter, compared to analysts' expectations of $376.98 million. During the same period last year, the company earned $0.57 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream's dividend payout ratio (DPR) is 116.10%.

Hess Midstream Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hess Midstream (NYSE:HESM)

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