Raymond James Financial Inc. purchased a new position in Hess Midstream LP (NYSE:HESM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 350,410 shares of the company's stock, valued at approximately $12,976,000. Raymond James Financial Inc. owned about 0.16% of Hess Midstream as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after purchasing an additional 579 shares during the last quarter. US Bancorp DE boosted its stake in Hess Midstream by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after purchasing an additional 510 shares during the last quarter. KBC Group NV boosted its stake in Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company's stock valued at $99,000 after purchasing an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in Hess Midstream during the 3rd quarter valued at $100,000. Finally, IFP Advisors Inc boosted its stake in Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.
Insider Buying and Selling
In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Hess Midstream Stock Performance
Shares of NYSE HESM traded down $0.81 during midday trading on Friday, hitting $42.71. 6,389,916 shares of the stock traded hands, compared to its average volume of 931,942. The firm has a 50-day moving average of $40.88 and a two-hundred day moving average of $37.81. The firm has a market capitalization of $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a one year low of $32.75 and a one year high of $44.05.
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 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%. On average, equities analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.
Analysts Set New Price Targets
HESM has been the topic of several recent analyst reports. Citigroup increased their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.00.
Check Out Our Latest Research Report on HESM
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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