Plato Investment Management Ltd purchased a new stake in Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,865 shares of the company's stock, valued at approximately $292,000.
A number of other institutional investors and hedge funds also recently modified their holdings of HESM. Yaupon Capital Management LP purchased a new stake in Hess Midstream during the 3rd quarter worth $44,088,000. Soros Fund Management LLC acquired a new position in shares of Hess Midstream during the third quarter worth about $14,108,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Hess Midstream in the fourth quarter worth about $8,786,000. Kayne Anderson Capital Advisors LP boosted its position in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company's stock worth $93,131,000 after buying an additional 194,154 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock valued at $21,755,000 after buying an additional 151,220 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.
Insider Buying and Selling at Hess Midstream
In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hess Midstream Stock Performance
Shares of NYSE:HESM traded up $0.64 on Friday, hitting $40.39. The company's stock had a trading volume of 1,658,908 shares, compared to its average volume of 1,225,623. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $42.31. The stock's 50-day moving average is $39.93 and its two-hundred day moving average is $37.42. 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 $8.80 billion, a price-to-earnings ratio of 16.22 and a beta of 1.48.
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, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, equities research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.
Hess Midstream Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a dividend yield of 6.94%. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio is currently 112.45%.
Wall Street Analyst Weigh In
HESM has been the topic of several 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 raised their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Citigroup upped their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two 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, Hess Midstream has a consensus rating of "Moderate Buy" and an average target price of $42.00.
Get Our Latest Report on HESM
Hess Midstream 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.
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