Sanctuary Advisors LLC Buys 561 Shares of Hess Midstream LP (NYSE:HESM)

Sanctuary Advisors LLC increased its holdings in shares of Hess Midstream LP (NYSE:HESM) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,758 shares of the company’s stock after acquiring an additional 561 shares during the period. Sanctuary Advisors LLC’s holdings in Hess Midstream were worth $469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tompkins Financial Corp acquired a new position in shares of Hess Midstream in the 3rd quarter valued at $71,000. KBC Group NV boosted its position in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream in the third quarter valued at approximately $100,000. Icon Wealth Advisors LLC lifted its position in shares of Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Hess Midstream by 487.4% during the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hess Midstream Stock Down 2.5 %

Shares of HESM stock opened at $36.37 on Friday. The firm’s fifty day moving average price is $35.99 and its two-hundred day moving average price is $36.29. Hess Midstream LP has a 1 year low of $30.72 and a 1 year high of $39.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a market capitalization of $7.93 billion, a P/E ratio of 15.41 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. Hess Midstream’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. On average, equities analysts predict that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.6846 dividend. This represents a $2.74 annualized dividend and a dividend yield of 7.53%. The ex-dividend date was Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is presently 115.68%.

About Hess Midstream

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.