190,900 Shares in Hess Midstream LP (NYSE:HESM) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 190,900 shares of the company's stock, valued at approximately $7,069,000. Norges Bank owned 0.09% of Hess Midstream at the end of the most recent reporting period.

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

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Hess Midstream Stock Up 2.3 %

Shares of NYSE:HESM traded up $0.82 on Monday, hitting $36.50. 39,148 shares of the company's stock were exchanged, compared to its average volume of 992,173. The firm's 50-day moving average is $40.46 and its 200 day moving average is $38.22. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $7.96 billion, a PE ratio of 14.60 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 released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a $0.7012 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.

Wall Street Analyst Weigh In

Several analysts recently commented on HESM shares. Citigroup raised their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased 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. Raymond James raised 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. Finally, Wells Fargo & Company boosted their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink.

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.