Bank of New York Mellon Corp Has $24.90 Million Holdings in Hess Midstream LP (NYSE:HESM)

Bank of New York Mellon Corp lessened its position in shares of Hess Midstream LP (NYSE:HESM) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 683,333 shares of the company’s stock after selling 7,557 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Hess Midstream worth $24,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of HESM. GSA Capital Partners LLP lifted its position in shares of Hess Midstream by 521.7% during the 4th quarter. GSA Capital Partners LLP now owns 99,834 shares of the company’s stock worth $3,158,000 after buying an additional 83,777 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Hess Midstream during the 4th quarter worth approximately $711,000. Swiss National Bank lifted its position in shares of Hess Midstream by 14.8% during the 1st quarter. Swiss National Bank now owns 154,600 shares of the company’s stock worth $5,586,000 after buying an additional 19,900 shares during the period. Wells Fargo & Company MN lifted its position in shares of Hess Midstream by 30.7% during the 4th quarter. Wells Fargo & Company MN now owns 434,434 shares of the company’s stock worth $13,741,000 after buying an additional 102,010 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Hess Midstream during the 1st quarter worth approximately $4,709,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on HESM shares. JPMorgan Chase & Co. raised their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group lifted their price objective on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Hess Midstream Trading Down 0.6 %

Shares of HESM opened at $36.33 on Thursday. The stock has a fifty day moving average price of $36.96 and a two-hundred day moving average price of $35.80. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. Hess Midstream LP has a 52-week low of $27.57 and a 52-week high of $39.11. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 16.44 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $365.16 million. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts predict that Hess Midstream LP will post 2.09 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.35%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is presently 120.81%.

About Hess Midstream

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.