Legal & General Group Plc Sells 10,810 Shares of Hess Midstream LP (NYSE:HESM)

Legal & General Group Plc lowered its position in Hess Midstream LP (NYSE:HESM - Free Report) by 9.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 106,499 shares of the company's stock after selling 10,810 shares during the period. Legal & General Group Plc's holdings in Hess Midstream were worth $3,944,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its holdings in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE grew its position in shares of Hess Midstream by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after buying an additional 510 shares during the period. IFP Advisors Inc increased its stake in shares of Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after acquiring an additional 733 shares in the last quarter. KBC Group NV lifted its position in shares of Hess Midstream by 80.0% during the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after acquiring an additional 2,243 shares during the period. Finally, South Street Advisors LLC boosted its stake in Hess Midstream by 7.8% during the fourth quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after acquiring an additional 450 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Hess Midstream Trading Up 2.6 %

NYSE:HESM opened at $37.39 on Wednesday. Hess Midstream LP has a one year low of $32.75 and a one year high of $44.05. The company has a market cap of $8.15 billion, a PE ratio of 15.02 and a beta of 1.14. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day moving average of $40.01 and a 200-day moving average of $38.27.

Hess Midstream (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS 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%. As a group, equities research analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 7.50%. Hess Midstream's dividend payout ratio (DPR) is 112.45%.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.

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