Corps Capital Advisors LLC bought a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the company's stock, valued at approximately $555,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in shares of Hess Midstream by 98.0% during the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock worth $10,118,000 after purchasing an additional 134,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hess Midstream by 51.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock worth $13,370,000 after purchasing an additional 128,009 shares during the period. Stifel Financial Corp boosted its holdings in shares of Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock worth $405,000 after purchasing an additional 3,148 shares during the period. Raymond James & Associates boosted its holdings in shares of Hess Midstream by 230.7% during the third quarter. Raymond James & Associates now owns 119,488 shares of the company's stock worth $4,214,000 after purchasing an additional 83,358 shares during the period. Finally, Artemis Investment Management LLP raised its position in Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after acquiring an additional 90,521 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
HESM has been the topic of several recent research reports. Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hess Midstream currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.
Check Out Our Latest Stock Report on HESM
Hess Midstream Stock Performance
Shares of NYSE:HESM traded down $0.60 during trading on Friday, reaching $40.66. The stock had a trading volume of 1,089,414 shares, compared to its average volume of 1,348,307. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $42.15. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 16.33 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $37.11.
Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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. This represents a $2.80 annualized dividend and a yield of 6.90%. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio is presently 112.45%.
Insider Activity at Hess Midstream
In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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