Tompkins Financial Corp Makes New $71,000 Investment in Hess Midstream LP (NYSE:HESM)

Tompkins Financial Corp purchased a new stake in Hess Midstream LP (NYSE:HESM) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,000 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors have also modified their holdings of HESM. Allspring Global Investments Holdings LLC acquired a new stake in Hess Midstream in the 1st quarter valued at approximately $30,000. Clear Point Advisors Inc. acquired a new position in shares of Hess Midstream during the first quarter valued at $49,000. Geneos Wealth Management Inc. raised its stake in shares of Hess Midstream by 31.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Comerica Bank lifted its holdings in Hess Midstream by 7.4% in the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the period. Finally, South Street Advisors LLC bought a new position in Hess Midstream in the 2nd quarter valued at about $211,000. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Down 0.9 %

Shares of Hess Midstream stock opened at $35.07 on Friday. The business has a fifty day simple moving average of $35.73 and a 200-day simple moving average of $35.96. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 14.86 and a beta of 1.51. Hess Midstream LP has a fifty-two week low of $29.35 and a fifty-two week high of $39.11. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a return on equity of 49.72% and a net margin of 13.06%. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. During the same period in the previous year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a yield of 7.81%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, November 7th. Hess Midstream’s payout ratio is presently 115.68%.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the stock 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.