Alliancebernstein L.P. Purchases New Shares in Hess Midstream LP (NYSE:HESM)

Alliancebernstein L.P. acquired a new position in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,499 shares of the company's stock, valued at approximately $1,944,000.

Other institutional investors have also added to or reduced their stakes in the company. apricus wealth LLC increased its holdings in Hess Midstream by 1.4% during the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company's stock worth $685,000 after purchasing an additional 250 shares in the last quarter. Teamwork Financial Advisors LLC boosted its position in shares of Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock worth $483,000 after buying an additional 286 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Hess Midstream by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock worth $439,000 after buying an additional 298 shares in the last quarter. Hardy Reed LLC raised its position in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock valued at $333,000 after buying an additional 450 shares during the last quarter. Finally, South Street Advisors LLC lifted its stake in Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock valued at $231,000 after acquiring an additional 450 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James raised their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup raised their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted 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 increased their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Hess Midstream Stock Up 2.6 %

HESM traded up $0.93 during trading on Tuesday, reaching $37.39. 610,331 shares of the stock were exchanged, compared to its average volume of 997,896. The stock has a market cap of $8.15 billion, a P/E ratio of 15.02 and a beta of 1.14. 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's 50 day moving average price is $40.01 and its two-hundred day moving average price is $38.27. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05.

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

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.50%. The ex-dividend date was Thursday, February 6th. Hess Midstream's payout ratio is currently 112.45%.

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.