Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,915 shares of the company's stock after purchasing an additional 23,844 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Hess Midstream worth $14,920,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of Hess Midstream by 11.1% during the fourth quarter. HighTower Advisors LLC now owns 26,205 shares of the company's stock valued at $970,000 after acquiring an additional 2,618 shares in the last quarter. Amundi grew its position in Hess Midstream by 7.5% during the 4th quarter. Amundi now owns 8,926 shares of the company's stock worth $343,000 after purchasing an additional 626 shares during the last quarter. Lindbrook Capital LLC increased its stake in Hess Midstream by 6.4% during the 4th quarter. Lindbrook Capital LLC now owns 22,935 shares of the company's stock valued at $849,000 after purchasing an additional 1,377 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Hess Midstream in the fourth quarter worth $12,976,000. Finally, Arizona State Retirement System lifted its stake in shares of Hess Midstream by 14.1% during the fourth quarter. Arizona State Retirement System now owns 30,203 shares of the company's stock worth $1,118,000 after buying an additional 3,736 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on HESM. Wells Fargo & Company upped their target price on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, Raymond James raised their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.00.
Get Our Latest Report on Hess Midstream
Insider Transactions at Hess Midstream
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Hess Midstream Stock Performance
NYSE:HESM traded up $1.10 during mid-day trading on Monday, hitting $43.19. The company's stock had a trading volume of 1,198,197 shares, compared to its average volume of 902,340. The business's fifty day moving average is $40.36 and its two-hundred day moving average is $37.60. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 17.35 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $43.41.
Hess Midstream (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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%. Analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The company also recently disclosed 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 a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.49%. Hess Midstream's dividend payout ratio (DPR) is presently 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.
Recommended Stories
Before you consider Hess Midstream, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream wasn't on the list.
While Hess Midstream currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
