American Century Companies Inc. grew its position in Hess Midstream LP (NYSE:HESM - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,098 shares of the company's stock after acquiring an additional 82,284 shares during the period. American Century Companies Inc. owned about 0.11% of Hess Midstream worth $8,891,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in Hess Midstream by 7.0% during the fourth quarter. Advisors Asset Management Inc. now owns 72,667 shares of the company's stock worth $2,691,000 after acquiring an additional 4,728 shares during the period. South Street Advisors LLC boosted its position in shares of Hess Midstream by 7.8% during the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after purchasing an additional 450 shares in the last quarter. Basso Capital Management L.P. grew its stake in shares of Hess Midstream by 53.3% during the 4th quarter. Basso Capital Management L.P. now owns 23,000 shares of the company's stock worth $852,000 after purchasing an additional 8,000 shares during the period. Vestcor Inc purchased a new position in shares of Hess Midstream in the 4th quarter valued at about $344,000. Finally, Swiss National Bank lifted its stake in shares of Hess Midstream by 2.4% in the fourth quarter. Swiss National Bank now owns 204,700 shares of the company's stock valued at $7,580,000 after purchasing an additional 4,700 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Hess Midstream
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Analysts Set New Price Targets
Several research analysts have weighed in on HESM shares. Raymond James upped their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Citigroup upped their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hess Midstream has an average rating of "Moderate Buy" and a consensus price target of $43.00.
Get Our Latest Stock Report on HESM
Hess Midstream Price Performance
Shares of Hess Midstream stock traded down $1.08 during trading on Monday, hitting $36.12. 1,922,326 shares of the company were exchanged, compared to its average volume of 982,458. The firm has a 50 day moving average price of $41.09 and a 200 day moving average price of $38.23. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 14.50 and a beta of 1.14. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05.
Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly 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%. On average, equities analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.77%. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.
About Hess Midstream
(
Free Report)
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.
See Also
Before you consider Hess Midstream, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream wasn't on the list.
While Hess Midstream currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
