Amundi Boosts Holdings in Hess Midstream LP (NYSE:HESM)

Amundi boosted its position in Hess Midstream LP (NYSE:HESM) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,926 shares of the company’s stock after acquiring an additional 626 shares during the quarter. Amundi’s holdings in Hess Midstream were worth $343,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. apricus wealth LLC raised its holdings in Hess Midstream by 1.4% in the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock valued at $685,000 after acquiring an additional 250 shares in the last quarter. Teamwork Financial Advisors LLC raised its holdings in Hess Midstream by 2.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock valued at $483,000 after acquiring an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Hess Midstream by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock valued at $439,000 after acquiring an additional 298 shares in the last quarter. Icon Wealth Advisors LLC raised its holdings in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares in the last quarter. Finally, Hardy Reed LLC raised its holdings in Hess Midstream by 5.3% in the fourth quarter. Hardy Reed LLC now owns 8,990 shares of the company’s stock valued at $333,000 after acquiring an additional 450 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HESM shares. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hess Midstream Stock Performance

NYSE:HESM opened at $42.71 on Friday. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 17.15 and a beta of 1.48. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05. The firm’s fifty day moving average price is $40.88 and its 200 day moving average price is $37.81. 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 quarterly earnings data 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 net margin of 14.92% and a return on equity of 54.59%. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This is an increase 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 annualized dividend and a yield of 6.57%. Hess Midstream’s payout ratio is presently 112.45%.

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.