Kesler Norman & Wride LLC increased its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 58.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,906 shares of the company's stock after purchasing an additional 8,412 shares during the period. Kesler Norman & Wride LLC's holdings in Hess Midstream were worth $848,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. bought a new position in shares of Hess Midstream in the fourth quarter worth about $1,944,000. Clearbridge Investments LLC lifted its position in Hess Midstream by 11.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after purchasing an additional 184,290 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Hess Midstream by 54.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after buying an additional 222,358 shares during the period. Schroder Investment Management Group raised its stake in shares of Hess Midstream by 26.9% during the fourth quarter. Schroder Investment Management Group now owns 398,339 shares of the company's stock worth $14,743,000 after buying an additional 84,461 shares during the last quarter. Finally, Norges Bank acquired a new position in Hess Midstream in the fourth quarter valued at approximately $7,069,000. 98.97% of the stock is owned by institutional investors and hedge funds.
Hess Midstream Stock Down 9.5 %
NYSE:HESM traded down $3.91 on Friday, hitting $37.22. 1,491,947 shares of the company's stock were exchanged, compared to its average volume of 978,699. The company has a market cap of $8.11 billion, a P/E ratio of 14.95 and a beta of 1.14. The firm has a 50-day moving average price of $41.17 and a 200-day moving average price of $38.22. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.54%. Hess Midstream's payout ratio is presently 112.45%.
Insider Activity at Hess Midstream
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream 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 filing with the Securities & Exchange Commission, which is accessible through this link.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Raymond James boosted their price objective 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, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hess Midstream presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.
View Our Latest Report on Hess Midstream
Hess Midstream Company Profile
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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.
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