Swiss National Bank Grows Position in Hess Midstream LP (NYSE:HESM)

Swiss National Bank lifted its position in Hess Midstream LP (NYSE:HESM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,700 shares of the company’s stock after buying an additional 4,700 shares during the quarter. Swiss National Bank owned approximately 0.09% of Hess Midstream worth $7,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV increased its position in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Hess Midstream by 147.6% in the third 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 during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Hess Midstream by 19.4% in the third quarter. Advisors Asset Management Inc. now owns 67,939 shares of the company’s stock worth $2,396,000 after purchasing an additional 11,061 shares during the last quarter. Algert Global LLC lifted its stake in Hess Midstream by 1,215.4% in the third quarter. Algert Global LLC now owns 119,105 shares of the company’s stock worth $4,201,000 after acquiring an additional 110,050 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Hess Midstream by 25.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 45,029 shares of the company’s stock worth $1,588,000 after acquiring an additional 9,061 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

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

Hess Midstream Price Performance

NYSE HESM opened at $42.71 on Friday. The company has a 50-day moving average price of $40.88 and a 200-day moving average price of $37.81. The firm has a market capitalization of $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share 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%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is currently 112.45%.

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.