Tokio Marine Asset Management Co. Ltd. Acquires Shares of 237,276 Hess Midstream LP (NYSE:HESM)

Tokio Marine Asset Management Co. Ltd. purchased a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 237,276 shares of the company's stock, valued at approximately $8,786,000. Tokio Marine Asset Management Co. Ltd. owned 0.11% of Hess Midstream as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HESM. Yaupon Capital Management LP acquired a new position in shares of Hess Midstream in the 3rd quarter worth approximately $44,088,000. Soros Fund Management LLC acquired a new position in Hess Midstream in the 3rd quarter valued at approximately $14,108,000. Kayne Anderson Capital Advisors LP boosted its holdings in 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 worth $93,131,000 after purchasing an additional 194,154 shares in the last quarter. Seven Grand Managers LLC bought a new position in shares of Hess Midstream in the 3rd quarter valued at approximately $6,349,000. Finally, Nordea Investment Management AB lifted its position in Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock worth $10,118,000 after acquiring an additional 134,171 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Wall Street Analysts Forecast Growth

HESM has been the topic of several research analyst reports. Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday.

Hess Midstream Stock Performance

NYSE:HESM traded up $0.61 during trading on Wednesday, reaching $41.59. The company's stock had a trading volume of 494,469 shares, compared to its average volume of 1,036,732. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 16.70 and a beta of 1.53. Hess Midstream LP has a 12 month low of $32.15 and a 12 month high of $42.15. The firm has a 50 day moving average of $38.25 and a 200-day moving average of $36.83.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Research analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.74%. Hess Midstream's payout ratio is presently 110.04%.

Insiders Place Their Bets

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at approximately $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 accessible through this hyperlink.

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.