Kayne Anderson Capital Advisors LP Has $93.13 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Kayne Anderson Capital Advisors LP lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,640,514 shares of the company’s stock after acquiring an additional 194,154 shares during the period. Hess Midstream makes up 2.4% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 15th biggest holding. Kayne Anderson Capital Advisors LP owned 1.20% of Hess Midstream worth $93,131,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Hess Midstream in the first quarter worth about $30,000. Swiss National Bank lifted its holdings in Hess Midstream by 14.8% in the 1st quarter. Swiss National Bank now owns 154,600 shares of the company’s stock worth $5,586,000 after buying an additional 19,900 shares during the period. ProShare Advisors LLC lifted its holdings in Hess Midstream by 5.2% in the first quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock worth $244,000 after buying an additional 332 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Hess Midstream by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 456,607 shares of the company’s stock valued at $16,497,000 after buying an additional 54,769 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Hess Midstream by 26.6% in the first quarter. Advisors Asset Management Inc. now owns 53,630 shares of the company’s stock worth $1,938,000 after purchasing an additional 11,272 shares during the period. 92.41% of the stock is currently owned by institutional investors.

Hess Midstream Stock Up 0.4 %

Shares of NYSE HESM opened at $35.34 on Monday. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 14.97 and a beta of 1.51. The firm’s 50-day moving average price is $35.58 and its 200-day moving average price is $35.98. Hess Midstream LP has a 12-month low of $30.08 and a 12-month 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.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 7.75%. Hess Midstream’s payout ratio is presently 115.68%.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Separately, 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 report on Wednesday, August 21st.

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.