Mark Sheptoff Financial Planning LLC Trims Position in Hess Midstream LP (NYSE:HESM)

Mark Sheptoff Financial Planning LLC lowered its position in Hess Midstream LP (NYSE:HESM) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,745 shares of the company’s stock after selling 305 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Hess Midstream were worth $287,000 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. Steward Partners Investment Advisory LLC grew its stake in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after buying an additional 579 shares during the period. US Bancorp DE grew its position in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 510 shares during the period. Millburn Ridgefield Corp acquired a new stake in Hess Midstream during the third quarter worth $100,000. IFP Advisors Inc raised its position in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares during the period. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Trading Down 0.4 %

NYSE HESM opened at $42.82 on Wednesday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 17.20 and a beta of 1.48. The firm has a 50 day simple moving average of $41.02 and a 200-day simple moving average of $37.92. Hess Midstream LP has a one year low of $32.75 and a one year high of $44.05.

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%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.55%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective 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. Citigroup boosted their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Raymond James increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.