Artemis Investment Management LLP Buys 402,875 Shares of Hess Midstream LP (NYSE:HESM)

Artemis Investment Management LLP increased its holdings in shares of Hess Midstream LP (NYSE:HESM) by 220.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585,961 shares of the company’s stock after buying an additional 402,875 shares during the period. Artemis Investment Management LLP owned 0.26% of Hess Midstream worth $21,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Hess Midstream during the third quarter worth approximately $41,000. First Horizon Advisors Inc. raised its stake in shares of Hess Midstream by 183.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after buying an additional 1,159 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Hess Midstream by 348.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares during the period. Lee Financial Co grew its holdings in Hess Midstream by 198.2% during the fourth quarter. Lee Financial Co now owns 4,422 shares of the company’s stock valued at $140,000 after purchasing an additional 2,939 shares during the period. Finally, Wealth Alliance acquired a new position in Hess Midstream during the fourth quarter valued at approximately $207,000. 92.41% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $34.02, for a total transaction of $51,030,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

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

Hess Midstream Stock Down 0.2 %

Hess Midstream stock opened at $36.45 on Friday. The stock has a market capitalization of $8.15 billion, a PE ratio of 16.49 and a beta of 1.49. Hess Midstream LP has a twelve month low of $27.57 and a twelve month high of $37.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 8.67. The company has a 50 day moving average of $35.22 and a 200-day moving average of $34.22.

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

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were issued a $0.6516 dividend. This represents a $2.61 annualized dividend and a dividend yield of 7.15%. The ex-dividend date of this dividend was Wednesday, May 1st. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio is 118.10%.

Hess Midstream 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.