Hess Midstream LP (NYSE:HESM) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 31.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,264 shares of the company's stock after buying an additional 18,158 shares during the period. MML Investors Services LLC's holdings in Hess Midstream were worth $2,690,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Yaupon Capital Management LP purchased a new stake in shares of Hess Midstream in the third quarter worth about $44,088,000. Westwood Holdings Group Inc. boosted its position in Hess Midstream by 126.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company's stock worth $70,567,000 after purchasing an additional 1,082,840 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Hess Midstream by 12.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company's stock worth $270,686,000 after purchasing an additional 822,311 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Hess Midstream by 23.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company's stock valued at $107,619,000 after purchasing an additional 562,688 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new position in shares of Hess Midstream during the 3rd quarter valued at approximately $14,108,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total value 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 price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st.

Hess Midstream Price Performance

NYSE HESM traded down $0.46 during mid-day trading on Monday, hitting $36.24. The stock had a trading volume of 716,763 shares, compared to its average volume of 876,474. The firm's 50 day moving average is $35.91 and its 200 day moving average is $36.21. 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 $7.90 billion, a price-to-earnings ratio of 15.36 and a beta of 1.53. Hess Midstream LP has a twelve month low of $30.72 and a twelve month high of $39.11.

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, beating the consensus estimate of $0.58 by $0.05. The company 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 firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. Equities research analysts forecast that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.56%. This is an increase from Hess Midstream's previous quarterly dividend of $0.67. Hess Midstream's dividend payout ratio (DPR) is currently 116.10%.

Hess Midstream Company 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.