Artemis Investment Management LLP Acquires 90,521 Shares of Hess Midstream LP (NYSE:HESM)

Artemis Investment Management LLP raised its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 851,203 shares of the company's stock after purchasing an additional 90,521 shares during the period. Artemis Investment Management LLP owned approximately 0.39% of Hess Midstream worth $31,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HESM. Tompkins Financial Corp acquired a new stake in Hess Midstream in the third quarter valued at about $71,000. KBC Group NV boosted its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company's stock valued at $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in Hess Midstream during the 3rd quarter worth approximately $100,000. Icon Wealth Advisors LLC lifted its stake in Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock valued at $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in 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. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Price Performance

Shares of NYSE HESM traded up $0.90 during midday trading on Monday, reaching $41.20. 1,042,482 shares of the company were exchanged, compared to its average volume of 852,611. Hess Midstream LP has a one year low of $32.03 and a one year high of $41.37. The stock has a market cap of $8.98 billion, a P/E ratio of 17.46 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 stock's 50-day moving average price is $37.01 and its 200-day moving average price is $36.56.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same period last year, the company earned $0.57 earnings per share. The business's quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.6846 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 6.65%. The ex-dividend date was Thursday, November 7th. Hess Midstream's dividend payout ratio is 116.10%.

Insider Transactions at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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.