Caprock Group LLC Buys New Shares in Hess Midstream LP (NYSE:HESM)

Caprock Group LLC acquired a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,753 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new position in Hess Midstream in the third quarter valued at about $71,000. KBC Group NV boosted its stake in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company's stock valued at $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in Hess Midstream in the third quarter valued at about $100,000. Icon Wealth Advisors LLC boosted its stake in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock valued at $116,000 after acquiring an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company's stock valued at $119,000 after acquiring an additional 2,793 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HESM shares. Wells Fargo & Company boosted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Raymond James upped their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th.

Insider Transactions at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the 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 $2,117,257.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hess Midstream Price Performance

NYSE HESM traded down $0.04 on Friday, hitting $40.42. The stock had a trading volume of 589,011 shares, compared to its average volume of 1,130,651. Hess Midstream LP has a 52-week low of $32.15 and a 52-week high of $42.15. 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 company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 16.23 and a beta of 1.53. The firm has a 50-day moving average of $38.45 and a 200-day moving average of $36.89.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be paid a $0.7012 dividend. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.94%. Hess Midstream's dividend payout ratio is currently 112.45%.

Hess Midstream Profile

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.