Algert Global LLC Takes Position in Hess Midstream LP (NYSE:HESM)

Algert Global LLC acquired a new position in Hess Midstream LP (NYSE:HESM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,055 shares of the company’s stock, valued at approximately $330,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Naples Global Advisors LLC grew its holdings in shares of Hess Midstream by 0.5% during the 2nd quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after purchasing an additional 300 shares during the period. ProShare Advisors LLC increased its position in shares of Hess Midstream by 4.8% during the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after acquiring an additional 323 shares during the last quarter. Granite Group Advisors LLC raised its stake in shares of Hess Midstream by 5.6% in the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after acquiring an additional 375 shares during the period. Comerica Bank lifted its holdings in shares of Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after acquiring an additional 385 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Hess Midstream by 31.3% during 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. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HESM. UBS Group boosted their target price 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. boosted their price objective on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st.

Hess Midstream Price Performance

Shares of HESM opened at $35.84 on Wednesday. The company has a market cap of $8.01 billion, a P/E ratio of 16.22 and a beta of 1.51. Hess Midstream LP has a fifty-two week low of $28.79 and a fifty-two week high of $39.11. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. The firm’s 50 day moving average price is $36.17 and its 200 day moving average price is $35.99.

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, topping analysts’ consensus estimates of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Hess Midstream LP will post 2.36 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a $0.6677 dividend. This represents a $2.67 annualized dividend and a dividend yield of 7.45%. The ex-dividend date was Thursday, August 8th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio (DPR) is presently 120.81%.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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.