XTX Topco Ltd Boosts Stake in Hess Midstream LP (NYSE:HESM)

XTX Topco Ltd increased its holdings in shares of Hess Midstream LP (NYSE:HESM) by 101.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,451 shares of the company’s stock after purchasing an additional 9,281 shares during the quarter. XTX Topco Ltd’s holdings in Hess Midstream were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Hess Midstream during the 1st quarter valued at about $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream in the 1st quarter worth approximately $49,000. Geneos Wealth Management Inc. grew its position in Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Comerica Bank raised its stake in Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after buying an additional 385 shares during the last quarter. Finally, South Street Advisors LLC bought a new position in shares of Hess Midstream during the 2nd quarter valued at $211,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $35.57 on Monday. The stock has a market cap of $7.95 billion, a P/E ratio of 16.10 and a beta of 1.52. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $36.73 and its 200 day moving average is $35.97. Hess Midstream LP has a one year low of $27.57 and a one year high of $39.11.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Hess Midstream LP will post 2.36 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $0.6677 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date of this dividend was Thursday, August 8th. Hess Midstream’s dividend payout ratio is presently 120.81%.

Insider Transactions at Hess Midstream

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

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

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.