Hess Midstream LP (NYSE:HESM) Shares Bought by Swiss National Bank

Swiss National Bank increased its position in Hess Midstream LP (NYSE:HESM - Free Report) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company's stock after buying an additional 23,100 shares during the period. Swiss National Bank owned about 0.09% of Hess Midstream worth $7,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Hess Midstream by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 456,607 shares of the company's stock worth $16,497,000 after buying an additional 54,769 shares during the last quarter. Lazard Asset Management LLC raised its stake in Hess Midstream by 15.2% during the first quarter. Lazard Asset Management LLC now owns 13,771 shares of the company's stock worth $497,000 after purchasing an additional 1,814 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Hess Midstream by 15.7% in the 1st quarter. California State Teachers Retirement System now owns 70,481 shares of the company's stock valued at $2,546,000 after purchasing an additional 9,577 shares during the last quarter. 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, Virtu Financial LLC purchased a new stake in shares of Hess Midstream during the 1st quarter valued at $442,000. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analyst Ratings Changes

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 Up 0.6 %

NYSE HESM traded up $0.21 during mid-day trading on Wednesday, hitting $37.34. The company's stock had a trading volume of 510,608 shares, compared to its average volume of 887,237. 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 $35.62 and its two-hundred day simple moving average is $36.07. The firm has a market capitalization of $8.14 billion, a P/E ratio of 15.85 and a beta of 1.51.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. Research analysts expect that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 7.33%. Hess Midstream's payout ratio is 115.68%.

Insiders Place Their Bets

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. 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.