Stephens Inc. AR Increases Stake in Hess Midstream LP (NYSE:HESM)

Stephens Inc. AR grew its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,169 shares of the company's stock after buying an additional 10,888 shares during the period. Stephens Inc. AR's holdings in Hess Midstream were worth $3,820,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock worth $10,118,000 after purchasing an additional 134,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 worth $13,370,000 after purchasing an additional 128,009 shares in the last quarter. Stifel Financial Corp lifted its holdings 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 holdings in Hess Midstream by 230.7% during the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company's stock worth $4,214,000 after purchasing an additional 83,358 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in Hess Midstream by 11.9% during the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

Wall Street Analyst Weigh In

HESM has been the topic of a number of recent research reports. Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th.

Hess Midstream Price Performance

NYSE HESM traded up $0.24 during trading on Friday, reaching $39.83. The company's stock had a trading volume of 1,175,712 shares, compared to its average volume of 1,166,187. The stock has a market capitalization of $8.68 billion, a PE ratio of 16.00 and a beta of 1.53. 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 firm has a fifty day moving average of $38.70 and a 200 day moving average of $36.97. Hess Midstream LP has a one year low of $32.73 and a one year high of $42.15.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be issued a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.04%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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.