Newbridge Financial Services Group Inc. Makes New Investment in Hess Midstream LP (NYSE:HESM)

Newbridge Financial Services Group Inc. acquired a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,132 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. apricus wealth LLC grew its stake in shares of Hess Midstream by 1.4% in the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock worth $685,000 after acquiring an additional 250 shares during the period. Teamwork Financial Advisors LLC grew its stake in shares of Hess Midstream by 2.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock worth $483,000 after acquiring an additional 286 shares during the period. Seelaus Asset Management LLC grew its stake in shares of Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company's stock worth $205,000 after acquiring an additional 300 shares during the period. Icon Wealth Advisors LLC grew its stake in shares of Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock worth $116,000 after acquiring an additional 329 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of Hess Midstream by 4.6% in the third quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company's stock worth $469,000 after acquiring an additional 561 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HESM has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Raymond James lifted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction that occurred on 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 available through this hyperlink.

Hess Midstream Stock Performance

HESM stock traded up $0.63 during midday trading on Thursday, reaching $39.53. 1,353,886 shares of the company's stock traded hands, compared to its average volume of 1,165,806. Hess Midstream LP has a 52-week low of $32.64 and a 52-week high of $42.15. The stock has a market cap of $8.62 billion, a P/E ratio of 15.87 and a beta of 1.53. 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 stock's 50-day moving average is $38.65 and its 200 day moving average is $36.96.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates 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 anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.7012 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream's dividend payout ratio is currently 112.45%.

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.