Mark Sheptoff Financial Planning LLC purchased a new position in shares of Hess Midstream LP (NYSE:HESM – Free Report) in the third quarter, HoldingsChannel reports. The fund purchased 8,050 shares of the company’s stock, valued at approximately $284,000.
Several other hedge funds also recently made changes to their positions in the business. Naples Global Advisors LLC lifted its position in shares of Hess Midstream by 0.5% in the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after purchasing an additional 300 shares in the last quarter. Seelaus Asset Management LLC grew its position in Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock valued at $205,000 after purchasing an additional 300 shares in the last quarter. ProShare Advisors LLC increased its stake in Hess Midstream by 4.8% in the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after buying an additional 323 shares during the last quarter. Icon Wealth Advisors LLC lifted its position in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after buying an additional 329 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after buying an additional 385 shares during the last quarter. 92.41% of the stock is owned by institutional investors.
Insider Buying and Selling at Hess Midstream
In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Analyst Ratings Changes
View Our Latest Analysis on HESM
Hess Midstream Price Performance
NYSE:HESM opened at $37.90 on Friday. The stock has a market capitalization of $8.26 billion, a PE ratio of 16.06 and a beta of 1.51. Hess Midstream LP has a 1-year low of $30.08 and a 1-year high of $39.11. The firm has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $36.10. 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, research analysts expect that Hess Midstream LP will post 2.45 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a yield of 7.23%. 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 payout ratio is 116.10%.
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.
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