Infrastructure Capital Advisors LLC Increases Stock Holdings in Hess Midstream LP (NYSE:HESM)

Infrastructure Capital Advisors LLC increased its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 24.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,771 shares of the company's stock after purchasing an additional 121,342 shares during the period. Hess Midstream accounts for 2.9% of Infrastructure Capital Advisors LLC's holdings, making the stock its 9th biggest holding. Infrastructure Capital Advisors LLC owned 0.28% of Hess Midstream worth $21,683,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HESM. Tompkins Financial Corp bought a new stake in shares of Hess Midstream during the third quarter valued at approximately $71,000. KBC Group NV grew its stake in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company's stock valued at $99,000 after acquiring an additional 1,279 shares in the last quarter. Brown Brothers Harriman & Co. increased 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 acquiring an additional 2,793 shares during the last quarter. Comerica Bank lifted its stake in Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company's stock worth $201,000 after purchasing an additional 385 shares in the last quarter. Finally, Seelaus Asset Management LLC boosted its holdings in shares of Hess Midstream by 5.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company's stock valued at $205,000 after purchasing an additional 300 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st.

Hess Midstream Price Performance

Shares of NYSE HESM traded up $0.61 during midday trading on Friday, reaching $37.92. 427,603 shares of the stock traded hands, compared to its average volume of 885,247. The company's 50 day moving average is $35.66 and its 200 day moving average is $36.08. Hess Midstream LP has a one year low of $30.08 and a one year high of $39.11. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.27 billion, a PE ratio of 16.07 and a beta of 1.51.

Hess Midstream (NYSE:HESM - Get Free Report) last released 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. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same quarter last year, the business earned $0.57 earnings per share. Hess Midstream's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. 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 7.22%. The ex-dividend date was Thursday, November 7th. Hess Midstream's payout ratio is presently 116.10%.

About Hess Midstream

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.