Soros Fund Management LLC bought a new position in Hess Midstream LP (NYSE:HESM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 400,000 shares of the company's stock, valued at approximately $14,108,000. Soros Fund Management LLC owned 0.18% of Hess Midstream as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its stake in Hess Midstream by 12.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company's stock worth $270,686,000 after purchasing an additional 822,311 shares in the last quarter. TD Asset Management Inc grew its position in shares of Hess Midstream by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company's stock worth $125,046,000 after buying an additional 322,479 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Hess Midstream by 23.5% during the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company's stock valued at $107,619,000 after buying an additional 562,688 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings 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 valued at $93,131,000 after acquiring an additional 194,154 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company's stock worth $70,567,000 after acquiring an additional 1,082,840 shares during the period. 92.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st.
Check Out Our Latest Report on Hess Midstream
Insider Buying and Selling
In other news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan C. Stein sold 7,923 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, 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 Stock Up 0.7 %
HESM traded up $0.26 on Friday, hitting $37.42. The company had a trading volume of 274,017 shares, compared to its average volume of 877,075. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 15.75 and a beta of 1.53. The stock has a fifty day moving average price of $35.84 and a 200-day moving average price of $36.16. Hess Midstream LP has a 12-month low of $30.08 and a 12-month high of $39.11. 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 (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same quarter in the previous year, the business posted $0.57 EPS. Hess Midstream's revenue was up 4.2% on a year-over-year basis. Analysts predict that Hess Midstream LP will post 2.45 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.6846 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.32%. Hess Midstream's dividend payout ratio (DPR) is presently 116.10%.
About Hess Midstream
(
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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