Stephens Inc. AR purchased 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 disclosure with the SEC. The institutional investor purchased 92,281 shares of the company's stock, valued at approximately $3,255,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Naples Global Advisors LLC raised its position in shares of Hess Midstream by 0.5% in the 2nd quarter. Naples Global Advisors LLC now owns 62,220 shares of the company's stock worth $2,267,000 after acquiring an additional 300 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Hess Midstream by 4.8% in the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company's stock worth $258,000 after buying an additional 323 shares during the last quarter. Granite Group Advisors LLC grew its stake in shares of Hess Midstream by 5.6% in the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company's stock worth $257,000 after buying an additional 375 shares during the last quarter. Comerica Bank grew its stake in shares of Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company's stock worth $201,000 after buying an additional 385 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company's stock worth $76,000 after buying an additional 500 shares during the last quarter. Institutional investors own 92.41% of the company's stock.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. upped their price target on Hess Midstream from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st.
Read Our Latest Stock Report on Hess Midstream
Insider Transactions at Hess Midstream
In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Hess Midstream Stock Down 0.2 %
HESM traded down $0.07 during trading on Monday, hitting $34.54. 871,726 shares of the company's stock traded hands, compared to its average volume of 900,086. The company's 50 day simple moving average is $35.91 and its two-hundred day simple moving average is $35.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 12-month low of $29.20 and a 12-month high of $39.11. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 14.64 and a beta of 1.51.
Hess Midstream (NYSE:HESM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 49.72% and a net margin of 13.06%. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same period last year, the business posted $0.57 EPS. The company's revenue was up 4.2% compared to the same quarter last year. Analysts predict that Hess Midstream LP will post 2.35 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a $0.6846 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date is Thursday, November 7th. Hess Midstream's dividend payout ratio (DPR) is 113.14%.
Hess Midstream Company Profile
(
Free Report)
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.
Further Reading
Before you consider Hess Midstream, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream wasn't on the list.
While Hess Midstream currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
