UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,106 shares of the company's stock after acquiring an additional 17,261 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Hess Midstream worth $7,093,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hess Midstream by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,436 shares of the company's stock worth $968,000 after acquiring an additional 2,818 shares during the period. FORA Capital LLC lifted its stake in shares of Hess Midstream by 50.3% in the 3rd quarter. FORA Capital LLC now owns 13,634 shares of the company's stock valued at $481,000 after purchasing an additional 4,562 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Hess Midstream by 8.1% during the 3rd quarter. Quantbot Technologies LP now owns 130,014 shares of the company's stock worth $4,586,000 after purchasing an additional 9,767 shares during the period. FMR LLC increased its position in shares of Hess Midstream by 4.6% during the 3rd quarter. FMR LLC now owns 539,518 shares of the company's stock worth $19,029,000 after purchasing an additional 23,700 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Hess Midstream by 487.4% in the 3rd 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 during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.
Hess Midstream Trading Down 0.2 %
HESM traded down $0.06 during mid-day trading on Tuesday, hitting $35.95. 605,411 shares of the stock were exchanged, compared to its average volume of 879,395. The company has a market cap of $7.84 billion, a PE ratio of 15.23 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm's fifty day moving average is $35.91 and its two-hundred day moving average is $36.18. Hess Midstream LP has a 1-year low of $30.08 and a 1-year high of $39.11.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. Equities analysts forecast that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 7.62%. Hess Midstream's dividend payout ratio (DPR) is 116.10%.
Insider Buying and Selling
In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan C. Stein sold 7,923 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st.
Check Out Our Latest Stock Analysis on Hess Midstream
Hess Midstream Company Profile
(
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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