Rockefeller Capital Management L.P. Buys Shares of 21,527 Hess Midstream LP (NYSE:HESM)

Rockefeller Capital Management L.P. purchased a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,527 shares of the company's stock, valued at approximately $759,000.

Several other institutional investors and hedge funds have also made changes to their positions in HESM. Naples Global Advisors LLC grew its holdings in Hess Midstream by 0.5% in the 2nd quarter. Naples Global Advisors LLC now owns 62,220 shares of the company's stock valued at $2,267,000 after buying an additional 300 shares during the period. Seelaus Asset Management LLC grew its holdings in Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company's stock valued at $205,000 after purchasing an additional 300 shares during the period. ProShare Advisors LLC raised its stake in Hess Midstream by 4.8% during the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company's stock worth $258,000 after purchasing an additional 323 shares during the period. Comerica Bank boosted its holdings in shares of Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company's stock valued at $201,000 after purchasing an additional 385 shares during the last quarter. Finally, Curi RMB Capital LLC grew its stake in shares of Hess Midstream by 7.0% during the 3rd quarter. Curi RMB Capital LLC now owns 10,139 shares of the company's stock valued at $358,000 after buying an additional 660 shares during the period. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their target price on Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st.

Hess Midstream Trading Down 0.2 %

NYSE HESM traded down $0.06 during mid-day trading on Tuesday, hitting $35.95. The company's stock had a trading volume of 605,411 shares, compared to its average volume of 879,395. The firm has a market capitalization of $7.84 billion, a P/E ratio of 15.23 and a beta of 1.53. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 52-week low of $30.08 and a 52-week high of $39.11. The stock's fifty day simple moving average is $35.91 and its two-hundred day simple moving average is $36.18.

Hess Midstream (NYSE:HESM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same quarter last year, the firm posted $0.57 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Hess Midstream LP will post 2.41 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.62%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. Hess Midstream's dividend payout ratio (DPR) is 116.10%.

Insider Activity at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.