Catalyst Capital Advisors LLC raised its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 15.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,231 shares of the company's stock after acquiring an additional 26,290 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.09% of Hess Midstream worth $6,851,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Hess Midstream during the 1st quarter worth about $30,000. Geneos Wealth Management Inc. increased its holdings in shares of Hess Midstream by 31.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Hess Midstream by 55.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company's stock worth $47,170,000 after buying an additional 467,601 shares during the last quarter. Empowered Funds LLC increased its position in Hess Midstream by 600.1% during the 1st quarter. Empowered Funds LLC now owns 69,145 shares of the company's stock worth $2,498,000 after purchasing an additional 59,269 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Hess Midstream during the 1st quarter worth $1,214,000. Institutional investors and hedge funds own 92.41% of the company's stock.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st.
Check Out Our Latest Report on Hess Midstream
Hess Midstream Price Performance
HESM traded up $0.15 on Tuesday, reaching $34.69. The company had a trading volume of 756,227 shares, compared to its average volume of 899,420. Hess Midstream LP has a one year low of $29.20 and a one year high of $39.11. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The company has a fifty day moving average of $35.85 and a 200-day moving average of $35.97. The company has a market capitalization of $7.66 billion, a P/E ratio of 14.75 and a beta of 1.51.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 49.72%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, equities research analysts anticipate that Hess Midstream LP will post 2.45 earnings per share for the current year.
Hess Midstream Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.6846 dividend. This represents a $2.74 annualized dividend and a yield of 7.89%. The ex-dividend date is Thursday, November 7th. This is an increase from Hess Midstream's previous quarterly dividend of $0.67. Hess Midstream's dividend payout ratio is presently 113.14%.
Insiders Place Their Bets
In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Hess Midstream Company Profile
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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.
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