Epoch Investment Partners Inc. Boosts Stake in Hess Midstream LP (NYSE:HESM)

Epoch Investment Partners Inc. raised its position in Hess Midstream LP (NYSE:HESM) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,953,324 shares of the company’s stock after buying an additional 562,688 shares during the period. Epoch Investment Partners Inc. owned approximately 1.32% of Hess Midstream worth $107,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Hess Midstream by 1.8% during the fourth quarter. UBS Group AG now owns 919,314 shares of the company’s stock worth $29,078,000 after purchasing an additional 16,074 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Hess Midstream by 30.7% in the fourth quarter. Wells Fargo & Company MN now owns 434,434 shares of the company’s stock worth $13,741,000 after acquiring an additional 102,010 shares during the last quarter. Quest Partners LLC bought a new position in Hess Midstream in the fourth quarter worth about $437,000. TD Asset Management Inc lifted its holdings in Hess Midstream by 190.8% in the fourth quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock worth $73,886,000 after acquiring an additional 1,532,700 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in Hess Midstream by 92.5% in the fourth quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $633,000 after acquiring an additional 9,608 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hess Midstream Price Performance

NYSE HESM 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 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 has a market capitalization of $7.95 billion, a PE ratio of 16.10 and a beta of 1.52. The company’s 50 day simple moving average is $36.73 and its 200 day simple moving average is $35.96.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $0.6677 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.51%. Hess Midstream’s payout ratio is 120.81%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group raised their target price 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. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.20.

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.