Epoch Investment Partners Inc. Has $107.62 Million Position in Hess Midstream LP (NYSE:HESM)

Epoch Investment Partners Inc. raised its stake in shares of Hess Midstream LP (NYSE:HESM) by 23.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,953,324 shares of the company’s stock after purchasing an additional 562,688 shares during the period. Epoch Investment Partners Inc.’s holdings in Hess Midstream were worth $107,619,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HESM. UBS Group AG boosted its stake in shares of Hess Midstream by 1.8% during the 4th quarter. UBS Group AG now owns 919,314 shares of the company’s stock valued at $29,078,000 after buying an additional 16,074 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Hess Midstream by 30.7% during the 4th quarter. Wells Fargo & Company MN now owns 434,434 shares of the company’s stock valued at $13,741,000 after buying an additional 102,010 shares during the period. Quest Partners LLC bought a new position in shares of Hess Midstream during the 4th quarter valued at $437,000. TD Asset Management Inc raised its holdings in shares of Hess Midstream by 190.8% during the 4th quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock valued at $73,886,000 after purchasing an additional 1,532,700 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Hess Midstream by 92.5% during the 4th quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $633,000 after purchasing an additional 9,608 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Hess Midstream Stock Performance

Shares of HESM opened at $35.57 on Friday. The company has a market capitalization of $7.95 billion, a PE ratio of 16.10 and a beta of 1.52. Hess Midstream LP has a one year low of $27.57 and a one year high of $39.11. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $36.73 and its 200 day moving average price is $35.96.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $365.16 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Hess Midstream LP will post 2.36 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.6677 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a dividend yield of 7.51%. Hess Midstream’s payout ratio is presently 120.81%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HESM shares. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group lifted their target price on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

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.