Maven Securities LTD Invests $3.53 Million in Hess Midstream LP (NYSE:HESM)

Maven Securities LTD acquired a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 100,000 shares of the company's stock, valued at approximately $3,527,000.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Hess Midstream in the 2nd quarter worth $6,410,000. Vanguard Group Inc. increased its holdings in shares of Hess Midstream by 13.6% in the first quarter. Vanguard Group Inc. now owns 456,607 shares of the company's stock valued at $16,497,000 after purchasing an additional 54,769 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Hess Midstream by 51.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock valued at $13,370,000 after purchasing an additional 128,009 shares during the period. MGO One Seven LLC boosted its stake in shares of Hess Midstream by 20.3% in the second quarter. MGO One Seven LLC now owns 174,476 shares of the company's stock worth $6,358,000 after buying an additional 29,434 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Hess Midstream by 230.7% in the third quarter. Raymond James & Associates now owns 119,488 shares of the company's stock worth $4,214,000 after buying an additional 83,358 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on Hess Midstream from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st.

Insider Activity at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The disclosure for this sale can be found here.

Hess Midstream Price Performance

Shares of NYSE:HESM traded down $0.52 during midday trading on Wednesday, hitting $37.13. The company had a trading volume of 543,425 shares, compared to its average volume of 882,041. Hess Midstream LP has a twelve month low of $30.08 and a twelve month high of $39.11. 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 stock has a market cap of $8.09 billion, a price-to-earnings ratio of 15.96 and a beta of 1.53. The business's 50-day simple moving average is $35.77 and its 200-day simple moving average is $36.14.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same period last year, the business posted $0.57 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 7.38%. Hess Midstream's dividend payout ratio (DPR) is 116.10%.

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.