Hess Midstream LP (NYSE:HESM) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP raised its holdings in Hess Midstream LP (NYSE:HESM) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760,682 shares of the company’s stock after purchasing an additional 109,916 shares during the period. Artemis Investment Management LLP owned about 0.34% of Hess Midstream worth $26,829,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Kesler Norman & Wride LLC bought a new stake in shares of Hess Midstream in the third quarter worth $511,000. SG Americas Securities LLC increased its position in shares of Hess Midstream by 15.2% in the 3rd quarter. SG Americas Securities LLC now owns 202,618 shares of the company’s stock worth $7,146,000 after purchasing an additional 26,725 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Hess Midstream in the 2nd quarter worth about $1,691,000. Sanctuary Advisors LLC acquired a new stake in shares of Hess Midstream in the 2nd quarter valued at about $426,000. Finally, Algert Global LLC bought a new position in shares of Hess Midstream during the second quarter worth about $330,000. 92.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group boosted their price objective on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target 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

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

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. As a group, sell-side analysts expect that Hess Midstream LP will post 2.36 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed 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 of this dividend was Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a dividend yield of 7.45%. Hess Midstream’s payout ratio is currently 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.