Sanctuary Advisors LLC Acquires 7,781 Shares of Hess Midstream LP (NYSE:HESM)

Sanctuary Advisors LLC grew its position in Hess Midstream LP (NYSE:HESM) by 61.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,539 shares of the company’s stock after purchasing an additional 7,781 shares during the period. Sanctuary Advisors LLC’s holdings in Hess Midstream were worth $761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC boosted its stake in Hess Midstream by 0.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 195,231 shares of the company’s stock valued at $7,229,000 after acquiring an additional 1,000 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Hess Midstream by 75.1% during the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock valued at $879,000 after buying an additional 10,175 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in Hess Midstream by 0.9% in the 4th quarter. Naples Global Advisors LLC now owns 64,175 shares of the company’s stock worth $2,376,000 after buying an additional 600 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Hess Midstream in the 4th quarter worth approximately $338,000. Finally, Stephens Inc. AR grew its stake in Hess Midstream by 11.8% in the 4th quarter. Stephens Inc. AR now owns 103,169 shares of the company’s stock valued at $3,820,000 after buying an additional 10,888 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $41.14 on Friday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $42.15. The company has a fifty day moving average of $39.54 and a 200-day moving average of $37.24. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 16.52 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.82%. Hess Midstream’s payout ratio is presently 112.45%.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Raymond James upped their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, 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 research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.