Exchange Traded Concepts LLC decreased its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 115,319 shares of the company's stock after selling 6,866 shares during the period. Exchange Traded Concepts LLC owned approximately 0.05% of Hess Midstream worth $4,270,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in 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 acquiring an additional 134,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock valued at $13,370,000 after purchasing an additional 128,009 shares during the last quarter. Stifel Financial Corp increased its position in Hess Midstream by 37.7% during the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock worth $405,000 after purchasing an additional 3,148 shares in the last quarter. Raymond James & Associates lifted its stake in Hess Midstream by 230.7% in the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company's stock valued at $4,214,000 after purchasing an additional 83,358 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hess Midstream by 9.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company's stock valued at $7,093,000 after buying an additional 17,261 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.
Insiders Place Their Bets
In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Hess Midstream Price Performance
Shares of NYSE:HESM traded up $0.54 during trading on Friday, hitting $41.38. 764,292 shares of the company were exchanged, compared to its average volume of 706,093. Hess Midstream LP has a 1-year low of $32.15 and a 1-year high of $41.61. The company has a market capitalization of $9.02 billion, a P/E ratio of 17.53 and a beta of 1.52. 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 business's 50 day moving average is $37.63 and its 200-day moving average is $36.70.
Hess Midstream (NYSE:HESM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to analysts' expectations of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. Equities analysts forecast that Hess Midstream LP will post 2.41 earnings per share for the current year.
Hess Midstream Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. The ex-dividend date was Thursday, November 7th. This is an increase from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 6.62%. Hess Midstream's dividend payout ratio (DPR) is currently 115.68%.
Hess Midstream Company Profile
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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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