LPL Financial LLC Purchases 8,942 Shares of Hess Midstream LP (NYSE:HESM)

LPL Financial LLC grew its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,610 shares of the company's stock after acquiring an additional 8,942 shares during the quarter. LPL Financial LLC owned 0.09% of Hess Midstream worth $7,206,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Hess Midstream by 98.0% in the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after acquiring an additional 134,171 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Hess Midstream by 37.7% in the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock valued at $405,000 after purchasing an additional 3,148 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Hess Midstream by 75.1% during the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after buying an additional 10,175 shares during the period. Artemis Investment Management LLP raised its position in Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after buying an additional 90,521 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Hess Midstream by 9.4% in 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 valued at $7,093,000 after acquiring an additional 17,261 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

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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 legal filing with the SEC, which is available through this link.

Hess Midstream Stock Performance

Shares of Hess Midstream stock traded up $0.34 during trading on Friday, hitting $35.65. 1,006,584 shares of the stock were exchanged, compared to its average volume of 995,519. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a fifty day moving average price of $40.46 and a 200-day moving average price of $38.20. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 14.32 and a beta of 1.14. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last announced 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%. As a group, equities analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 7.87%. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James increased their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. 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 report on Thursday, March 27th. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Finally, Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

About Hess Midstream

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.