JPMorgan Chase & Co. Sells 637,895 Shares of Hess Midstream LP (NYSE:HESM)

JPMorgan Chase & Co. lowered its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 77.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,423 shares of the company's stock after selling 637,895 shares during the period. JPMorgan Chase & Co. owned 0.08% of Hess Midstream worth $6,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HESM. Commonwealth Equity Services LLC increased its stake in shares of Hess Midstream by 28.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,709 shares of the company's stock valued at $427,000 after purchasing an additional 2,589 shares during the last quarter. Acadian Asset Management LLC increased its position in Hess Midstream by 24.2% during the 2nd quarter. Acadian Asset Management LLC now owns 11,910 shares of the company's stock valued at $434,000 after purchasing an additional 2,324 shares during the period. American Century Companies Inc. raised its stake in Hess Midstream by 18.1% during the second quarter. American Century Companies Inc. now owns 132,450 shares of the company's stock worth $4,826,000 after buying an additional 20,344 shares during the last quarter. Seven Eight Capital LP raised its position in shares of Hess Midstream by 265.9% in the 2nd quarter. Seven Eight Capital LP now owns 31,157 shares of the company's stock worth $1,135,000 after acquiring an additional 22,641 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Hess Midstream by 101.2% in the 2nd quarter. XTX Topco Ltd now owns 18,451 shares of the company's stock valued at $672,000 after purchasing an additional 9,281 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Trading Up 2.1 %

NYSE HESM traded up $0.82 during trading hours on Thursday, hitting $40.30. 922,585 shares of the company's stock were exchanged, compared to its average volume of 715,708. Hess Midstream LP has a 1-year low of $32.03 and a 1-year high of $40.60. 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 stock has a 50-day simple moving average of $36.79 and a 200 day simple moving average of $36.51. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 17.08 and a beta of 1.52.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a yield of 6.80%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream's dividend payout ratio is 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.