Hess Midstream LP (NYSE:HESM) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,654 shares of the company's stock after acquiring an additional 10,492 shares during the period. Pacer Advisors Inc.'s holdings in Hess Midstream were worth $1,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC lifted 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 valued at $258,000 after purchasing an additional 323 shares during the last quarter. Algert Global LLC acquired a new position in Hess Midstream in the second quarter valued at about $330,000. Sanctuary Advisors LLC purchased a new position in Hess Midstream during the second quarter worth about $426,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Hess Midstream during the second quarter valued at about $1,691,000. Finally, SG Americas Securities LLC raised its stake in shares of Hess Midstream by 15.2% in the 3rd quarter. SG Americas Securities LLC now owns 202,618 shares of the company's stock valued at $7,146,000 after acquiring an additional 26,725 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Stock Up 1.9 %

Hess Midstream stock traded up $0.77 during mid-day trading on Wednesday, reaching $41.75. 1,214,020 shares of the company's stock were exchanged, compared to its average volume of 1,069,083. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a twelve month low of $32.15 and a twelve month high of $42.15. The company has a market cap of $9.10 billion, a P/E ratio of 16.77 and a beta of 1.53. The company has a fifty day moving average of $38.34 and a 200-day moving average of $36.86.

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 expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream's dividend payout ratio is presently 110.04%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday.

Insider Activity at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company's stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hess Midstream Company 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.