Acadian Asset Management LLC Grows Position in Hess Midstream LP (NYSE:HESM)

Acadian Asset Management LLC raised its holdings in Hess Midstream LP (NYSE:HESM) by 24.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,910 shares of the company’s stock after purchasing an additional 2,324 shares during the period. Acadian Asset Management LLC’s holdings in Hess Midstream were worth $434,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Hess Midstream during the 1st quarter valued at $30,000. Clear Point Advisors Inc. purchased a new position in Hess Midstream during the 1st quarter valued at about $49,000. Geneos Wealth Management Inc. increased its position in shares of Hess Midstream by 31.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after buying an additional 500 shares during the period. Comerica Bank lifted its holdings in shares of Hess Midstream by 7.4% in the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after buying an additional 385 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Hess Midstream by 5.2% in the first quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock valued at $244,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HESM. JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. UBS Group upped their price target on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.20.

Hess Midstream Trading Down 0.1 %

Shares of HESM opened at $36.93 on Thursday. Hess Midstream LP has a 1-year low of $27.57 and a 1-year high of $39.11. The company has a market capitalization of $8.26 billion, a P/E ratio of 16.67 and a beta of 1.52. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $36.83 and its 200 day simple moving average is $35.94.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The firm had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $365.16 million. During the same quarter last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Hess Midstream LP will post 2.36 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were issued a $0.6677 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date was Thursday, August 8th. Hess Midstream’s dividend payout ratio is presently 120.81%.

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.