Connor Clark & Lunn Investment Management Ltd. Grows Position in Hess Midstream LP (NYSE:HESM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hess Midstream LP (NYSE:HESM) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 402,915 shares of the company’s stock after purchasing an additional 23,844 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hess Midstream were worth $14,920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in shares of Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after purchasing an additional 134,171 shares during the last quarter. Stifel Financial Corp boosted its stake in Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after buying an additional 3,148 shares during the last quarter. Van ECK Associates Corp grew its holdings in 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. Artemis Investment Management LLP grew its holdings in Hess Midstream by 11.9% during the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after buying an additional 90,521 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hess Midstream by 9.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company’s stock worth $7,093,000 after acquiring an additional 17,261 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup upped their target price 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. Finally, Wells Fargo & Company lifted their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hess Midstream Trading Up 0.1 %

HESM stock opened at $40.67 on Friday. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $42.31. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 16.34 and a beta of 1.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm’s fifty day simple moving average is $40.21 and its two-hundred day simple moving average is $37.53.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 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%. As a group, analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

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.