ING Groep NV Invests $4.04 Million in Hess Midstream LP (NYSE:HESM)

ING Groep NV bought a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 109,000 shares of the company's stock, valued at approximately $4,036,000. ING Groep NV owned about 0.05% of Hess Midstream at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tompkins Financial Corp bought a new stake in Hess Midstream during the 3rd quarter valued at approximately $71,000. KBC Group NV boosted its position in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company's stock worth $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in Hess Midstream during the third quarter valued at $100,000. Icon Wealth Advisors LLC increased its holdings in shares of Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock worth $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company's stock worth $119,000 after acquiring an additional 2,793 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Raymond James increased their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hess Midstream has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Hess Midstream Trading Up 1.2 %

NYSE:HESM traded up $0.49 during mid-day trading on Wednesday, hitting $40.53. 1,148,113 shares of the stock traded hands, compared to its average volume of 1,182,930. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 16.28 and a beta of 1.53. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $42.15. The firm's 50 day moving average is $39.33 and its two-hundred day moving average is $37.19.

Hess Midstream (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a dividend yield of 6.92%. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is 112.45%.

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.