Hess Midstream LP (NYSE:HESM) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its holdings in Hess Midstream LP (NYSE:HESM) by 126.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,936,522 shares of the company’s stock after acquiring an additional 1,082,840 shares during the period. Westwood Holdings Group Inc. owned about 0.87% of Hess Midstream worth $70,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Naples Global Advisors LLC raised its holdings in shares of Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock valued at $2,267,000 after buying an additional 300 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Hess Midstream by 5.2% during 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. Granite Group Advisors LLC boosted its stake in Hess Midstream by 5.6% during the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares in the last quarter. Comerica Bank increased its position in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after purchasing an additional 385 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in Hess Midstream by 5.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock valued at $283,000 after buying an additional 484 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hess Midstream Stock Performance

Shares of Hess Midstream stock opened at $35.57 on Friday. Hess Midstream LP has a 12 month low of $27.57 and a 12 month high of $39.11. The stock has a market cap of $7.95 billion, a PE ratio of 16.10 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. The business has a fifty day simple moving average of $36.73 and a 200-day simple moving average of $35.96.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $365.16 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Hess Midstream LP will post 2.36 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.6677 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend was Thursday, August 8th. Hess Midstream’s payout ratio is currently 120.81%.

Wall Street Analyst Weigh In

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

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.