Hess Midstream LP (NYSE:HESM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Hess Midstream LP (NYSE:HESM) by 77.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,423 shares of the company’s stock after selling 637,895 shares during the period. JPMorgan Chase & Co. owned 0.08% of Hess Midstream worth $6,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in shares of Hess Midstream by 28.4% during the second quarter. Commonwealth Equity Services LLC now owns 11,709 shares of the company’s stock valued at $427,000 after acquiring an additional 2,589 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Hess Midstream by 24.2% during the second quarter. Acadian Asset Management LLC now owns 11,910 shares of the company’s stock worth $434,000 after purchasing an additional 2,324 shares in the last quarter. American Century Companies Inc. raised its stake in Hess Midstream by 18.1% in the 2nd quarter. American Century Companies Inc. now owns 132,450 shares of the company’s stock valued at $4,826,000 after purchasing an additional 20,344 shares during the last quarter. Seven Eight Capital LP lifted its holdings in Hess Midstream by 265.9% in the 2nd quarter. Seven Eight Capital LP now owns 31,157 shares of the company’s stock valued at $1,135,000 after purchasing an additional 22,641 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in Hess Midstream by 101.2% during the 2nd quarter. XTX Topco Ltd now owns 18,451 shares of the company’s stock worth $672,000 after purchasing an additional 9,281 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Hess Midstream Price Performance

Hess Midstream stock opened at $39.45 on Thursday. The company has a fifty day simple moving average of $36.72 and a 200-day simple moving average of $36.49. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 16.72 and a beta of 1.52. Hess Midstream LP has a 52-week low of $32.03 and a 52-week high of $40.60.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. Hess Midstream’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities analysts anticipate that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 6.94%. Hess Midstream’s dividend payout ratio (DPR) is presently 115.68%.

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.