Kesler Norman & Wride LLC Acquires Shares of 14,494 Hess Midstream LP (NYSE:HESM)

Kesler Norman & Wride LLC acquired a new stake in Hess Midstream LP (NYSE:HESM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,494 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds have also recently modified their holdings of HESM. Westwood Holdings Group Inc. increased its position in shares of Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock valued at $70,567,000 after acquiring an additional 1,082,840 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Hess Midstream by 12.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock valued at $270,686,000 after purchasing an additional 822,311 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Hess Midstream by 33.1% during the 1st quarter. TD Asset Management Inc now owns 3,109,076 shares of the company’s stock valued at $112,331,000 after purchasing an additional 773,119 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in shares of Hess Midstream by 434.8% during the 1st quarter. BROOKFIELD Corp ON now owns 843,577 shares of the company’s stock valued at $30,478,000 after purchasing an additional 685,847 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Hess Midstream by 33.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,390,636 shares of the company’s stock valued at $86,374,000 after purchasing an additional 597,750 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HESM shares. JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. UBS Group lifted their target price on shares of Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’s 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 SEC, which is accessible through this link.

Hess Midstream Trading Down 0.7 %

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

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. 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 previous year, the firm posted $0.50 earnings per share. Hess Midstream’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, analysts forecast that Hess Midstream LP will post 2.36 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were paid a dividend of $0.6677 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.45%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is presently 120.81%.

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.