Kesler Norman & Wride LLC Grows Holdings in Hess Midstream LP (NYSE:HESM)

Kesler Norman & Wride LLC raised its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 58.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,906 shares of the company's stock after purchasing an additional 8,412 shares during the quarter. Kesler Norman & Wride LLC's holdings in Hess Midstream were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of HESM. FMR LLC increased its holdings in Hess Midstream by 4.6% during the third quarter. FMR LLC now owns 539,518 shares of the company's stock worth $19,029,000 after buying an additional 23,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Hess Midstream by 11.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,436 shares of the company's stock valued at $968,000 after acquiring an additional 2,818 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Hess Midstream by 9.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company's stock worth $7,093,000 after purchasing an additional 17,261 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Hess Midstream in the 3rd quarter worth approximately $759,000. Finally, Verition Fund Management LLC raised its holdings in shares of Hess Midstream by 204.0% in the 3rd quarter. Verition Fund Management LLC now owns 66,390 shares of the company's stock worth $2,342,000 after purchasing an additional 44,553 shares during the period. Institutional investors own 98.97% of the company's stock.

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Analysts Set New Price Targets

HESM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted 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. Raymond James boosted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Hess Midstream has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Hess Midstream Stock Performance

Shares of Hess Midstream stock traded down $3.91 during trading hours on Friday, reaching $37.22. The company had a trading volume of 1,491,947 shares, compared to its average volume of 978,163. 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 one year low of $32.75 and a one year high of $44.05. The firm has a market cap of $8.11 billion, a PE ratio of 14.95 and a beta of 1.14. The business has a fifty day simple moving average of $41.17 and a 200 day simple moving average of $38.21.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 7.54%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's payout ratio is currently 112.45%.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hess Midstream 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.