Resona Asset Management Co. Ltd. bought a new stake in Hess Midstream LP (NYSE:HESM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,622 shares of the company's stock, valued at approximately $690,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its stake in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE raised its stake in shares of Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after acquiring an additional 510 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Hess Midstream by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after purchasing an additional 733 shares in the last quarter. KBC Group NV grew its stake in shares of Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after purchasing an additional 2,243 shares during the last quarter. Finally, South Street Advisors LLC increased its holdings in shares of Hess Midstream by 7.8% in the fourth quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock valued at $231,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.
Hess Midstream Trading Up 1.1 %
Shares of NYSE:HESM traded up $0.41 during mid-day trading on Tuesday, reaching $36.91. The stock had a trading volume of 590,665 shares, compared to its average volume of 993,647. The firm has a 50 day simple moving average of $40.35 and a two-hundred day simple moving average of $38.23. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05. The firm has a market cap of $8.05 billion, a PE ratio of 14.82 and a beta of 1.14. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, research analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.60%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.
Insider Activity
In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on HESM shares. Citigroup lifted 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 lifted their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Finally, 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 report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.
Read Our Latest Stock Analysis 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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