GSA Capital Partners LLP Acquires 83,777 Shares of Hess Midstream LP (NYSE:HESM)

GSA Capital Partners LLP grew its position in Hess Midstream LP (NYSE:HESM) by 521.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,834 shares of the company’s stock after purchasing an additional 83,777 shares during the period. Hess Midstream makes up approximately 0.3% of GSA Capital Partners LLP’s investment portfolio, making the stock its 28th largest holding. GSA Capital Partners LLP’s holdings in Hess Midstream were worth $3,158,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank increased its stake in shares of Hess Midstream by 22.6% during the third quarter. Swiss National Bank now owns 147,000 shares of the company’s stock worth $4,282,000 after purchasing an additional 27,100 shares during the period. Van ECK Associates Corp lifted its holdings in Hess Midstream by 45.6% during the 3rd quarter. Van ECK Associates Corp now owns 15,352 shares of the company’s stock worth $447,000 after buying an additional 4,807 shares during the period. HighTower Advisors LLC lifted its holdings in Hess Midstream by 53.6% during the 3rd quarter. HighTower Advisors LLC now owns 13,031 shares of the company’s stock worth $380,000 after buying an additional 4,545 shares during the period. UBS Group AG lifted its holdings in Hess Midstream by 24.5% during the 3rd quarter. UBS Group AG now owns 903,240 shares of the company’s stock worth $26,311,000 after buying an additional 177,788 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Hess Midstream in the 3rd quarter worth about $41,000. 92.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on HESM shares. JPMorgan Chase & Co. boosted their target price on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Finally, UBS Group upped their price objective on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 1,500,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hess Midstream Trading Up 1.1 %

Shares of HESM stock opened at $35.42 on Friday. The company’s fifty day simple moving average is $35.08 and its two-hundred day simple moving average is $33.89. The company has a debt-to-equity ratio of 8.67, a current ratio of 0.89 and a quick ratio of 0.89. Hess Midstream LP has a 1 year low of $27.57 and a 1 year high of $36.84. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 16.03 and a beta of 1.49.

Hess Midstream (NYSE:HESM) last issued its earnings results on Thursday, April 25th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Hess Midstream had a net margin of 10.18% and a return on equity of 35.08%. The business had revenue of $355.60 million for the quarter, compared to analysts’ expectations of $354.98 million. As a group, analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd were issued a dividend of $0.6516 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, May 1st. This represents a $2.61 dividend on an annualized basis and a yield of 7.36%. Hess Midstream’s payout ratio is presently 118.10%.

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.