US Bancorp DE Acquires 510 Shares of Hess Midstream LP (NYSE:HESM)

US Bancorp DE boosted its holdings in Hess Midstream LP (NYSE:HESM) by 34.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,010 shares of the company’s stock after purchasing an additional 510 shares during the quarter. US Bancorp DE’s holdings in Hess Midstream were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HESM. Yaupon Capital Management LP bought a new stake in shares of Hess Midstream in the third quarter worth about $44,088,000. Soros Fund Management LLC purchased a new position in Hess Midstream during the 3rd quarter valued at approximately $14,108,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Hess Midstream in the 4th quarter worth approximately $8,786,000. Kayne Anderson Capital Advisors LP raised its holdings in shares of Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after acquiring an additional 194,154 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock valued at $21,755,000 after acquiring an additional 151,220 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hess Midstream Price Performance

Hess Midstream stock opened at $43.19 on Tuesday. The firm has a market capitalization of $9.42 billion, a PE ratio of 17.35 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $43.42. The firm has a 50-day moving average price of $40.47 and a 200-day moving average price of $37.64. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, equities research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.49%. Hess Midstream’s dividend payout ratio (DPR) is presently 112.45%.

Analysts Set New Price Targets

HESM has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James boosted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.