Castellan Group trimmed its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,110 shares of the company's stock after selling 8,589 shares during the quarter. Hess Midstream accounts for 1.6% of Castellan Group's portfolio, making the stock its 23rd largest position. Castellan Group's holdings in Hess Midstream were worth $3,633,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Hess Midstream during the 2nd quarter valued at about $426,000. Creative Planning boosted its holdings in Hess Midstream by 32.6% in the third quarter. Creative Planning now owns 7,390 shares of the company's stock worth $261,000 after purchasing an additional 1,815 shares in the last quarter. NBC Securities Inc. raised its holdings in Hess Midstream by 24,034.0% during the third quarter. NBC Securities Inc. now owns 24,134 shares of the company's stock valued at $851,000 after buying an additional 24,034 shares in the last quarter. Leisure Capital Management acquired a new stake in shares of Hess Midstream in the third quarter worth about $872,000. Finally, Seven Grand Managers LLC bought a new stake in shares of Hess Midstream during the 3rd quarter worth about $6,349,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Raymond James boosted their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company upped 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.
Read Our Latest Report on HESM
Hess Midstream Stock Performance
Shares of HESM traded up $0.24 on Monday, reaching $39.83. 1,175,712 shares of the stock traded hands, compared to its average volume of 1,130,651. The stock's 50-day moving average price is $38.70 and its 200-day moving average price is $36.97. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 16.00 and a beta of 1.53. Hess Midstream LP has a 12 month low of $32.73 and a 12 month high of $42.15.
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, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 7.04%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio is currently 112.45%.
About Hess Midstream
(
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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