Empowered Funds LLC Buys 8,972 Shares of Hess Midstream LP (NYSE:HESM)

Empowered Funds LLC boosted its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,171 shares of the company's stock after purchasing an additional 8,972 shares during the quarter. Empowered Funds LLC's holdings in Hess Midstream were worth $3,006,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tompkins Financial Corp bought a new position in shares of Hess Midstream in the third quarter valued at $71,000. KBC Group NV lifted its stake in shares of 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 buying an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hess Midstream in the third quarter valued at $100,000. Icon Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of 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 buying an additional 2,793 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HESM. Wells Fargo & Company raised their price target 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. Raymond James raised their price target 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.

Insider Transactions at Hess Midstream

In other 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 value of $430,210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hess Midstream Stock Performance

HESM stock traded up $0.24 during mid-day trading on Monday, hitting $39.83. The company had a trading volume of 1,175,712 shares, compared to its average volume of 1,130,651. The firm has a market cap of $8.68 billion, a PE ratio of 16.00 and a beta of 1.53. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a 12 month low of $32.73 and a 12 month high of $42.15. The stock's fifty day moving average price is $38.78 and its two-hundred day moving average price is $36.99.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 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%. On average, analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal 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 $0.7012 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 7.04%. Hess Midstream's dividend payout ratio (DPR) is presently 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.