Steward Partners Investment Advisory LLC Acquires 579 Shares of Hess Midstream LP (NYSE:HESM)

Steward Partners Investment Advisory LLC boosted its position in Hess Midstream LP (NYSE:HESM) by 77.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,329 shares of the company’s stock after purchasing an additional 579 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Hess Midstream were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HESM. Oppenheimer Asset Management Inc. increased its holdings in Hess Midstream by 9.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,559 shares of the company’s stock worth $408,000 after purchasing an additional 1,032 shares in the last quarter. KBC Group NV increased its holdings in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Empowered Funds LLC increased its holdings in Hess Midstream by 21.7% in the 3rd quarter. Empowered Funds LLC now owns 72,199 shares of the company’s stock worth $2,546,000 after purchasing an additional 12,888 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Hess Midstream by 147.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 200,062 shares of the company’s stock worth $7,056,000 after purchasing an additional 119,277 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Hess Midstream by 13.1% in the 3rd quarter. Swiss National Bank now owns 200,000 shares of the company’s stock worth $7,054,000 after purchasing an additional 23,100 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hess Midstream Trading Up 0.0 %

NYSE HESM opened at $43.18 on Wednesday. The business has a 50 day simple moving average of $40.57 and a 200 day simple moving average of $37.69. Hess Midstream LP has a one year low of $32.75 and a one year high of $43.98. The stock has a market capitalization of $9.41 billion, a P/E ratio of 17.34 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping 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%. Research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.50%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Buying and Selling

In other Hess Midstream 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 document filed with the SEC, which is available at this hyperlink.

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.