Hess Midstream LP (NYSE:HESM) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in Hess Midstream LP (NYSE:HESM) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 130,014 shares of the company’s stock after buying an additional 9,767 shares during the period. Quantbot Technologies LP owned approximately 0.06% of Hess Midstream worth $4,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its position in Hess Midstream by 12.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock valued at $270,686,000 after purchasing an additional 822,311 shares during the period. TD Asset Management Inc increased its stake in Hess Midstream by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock worth $125,046,000 after buying an additional 322,479 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Hess Midstream by 23.5% during the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock valued at $107,619,000 after acquiring an additional 562,688 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after acquiring an additional 194,154 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Hess Midstream by 126.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after purchasing an additional 1,082,840 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction on 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.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st.

Hess Midstream Stock Up 1.5 %

Shares of Hess Midstream stock opened at $37.18 on Wednesday. The business has a 50-day moving average price of $35.61 and a 200 day moving average price of $36.05. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The firm has a market cap of $8.11 billion, a P/E ratio of 15.75 and a beta of 1.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.37%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream’s dividend payout ratio (DPR) is 115.68%.

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.