Vestcor Inc bought a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,283 shares of the company's stock, valued at approximately $344,000.
Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after purchasing an additional 134,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock valued at $13,370,000 after acquiring an additional 128,009 shares during the period. Stifel Financial Corp lifted its position in shares of Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock worth $405,000 after acquiring an additional 3,148 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Hess Midstream by 75.1% in the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after acquiring an additional 10,175 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after purchasing an additional 90,521 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.
Hess Midstream Price Performance
HESM stock traded down $0.81 during midday trading on Friday, reaching $42.71. The company had a trading volume of 6,389,911 shares, compared to its average volume of 929,447. The firm has a 50-day moving average price of $40.79 and a 200-day moving average price of $37.77. The company has a market capitalization of $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $44.05. 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 (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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 anticipate that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.
Hess Midstream Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.57%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is currently 112.45%.
Insider Buying and Selling
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's 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 document filed with the Securities & Exchange Commission, which is available at the SEC website.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on HESM. Raymond James increased their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Finally, Citigroup upped their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hess Midstream currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.
Check Out Our Latest Research Report on Hess Midstream
Hess Midstream Profile
(
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.
Featured Articles
Before you consider Hess Midstream, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream wasn't on the list.
While Hess Midstream currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
