Hess Midstream LP (NYSE:HESM) Stake Lifted by American Century Companies Inc.

American Century Companies Inc. raised its stake in Hess Midstream LP (NYSE:HESM) by 52.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 240,098 shares of the company’s stock after buying an additional 82,284 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Hess Midstream worth $8,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in shares of Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after buying an additional 579 shares in the last quarter. US Bancorp DE raised its stake in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after buying an additional 510 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream in the third quarter valued at $100,000. IFP Advisors Inc boosted its position in shares of Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Hess Midstream by 80.0% in the 4th quarter. KBC Group NV now owns 5,046 shares of the company’s stock worth $187,000 after purchasing an additional 2,243 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Price Performance

Shares of HESM stock opened at $42.92 on Thursday. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $44.05. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $9.36 billion, a PE ratio of 17.24 and a beta of 1.48. The firm’s 50 day moving average price is $41.25 and its two-hundred day moving average price is $38.19.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (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%. As a group, analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is 112.45%.

Wall Street Analyst Weigh In

HESM has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Wells Fargo & Company lifted their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Raymond James boosted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s 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 filing with the SEC, which is accessible through the SEC website.

Hess Midstream Company 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.