Pacer Advisors Inc. Increases Stake in Hess Midstream LP (NYSE:HESM)

Pacer Advisors Inc. raised its holdings in shares of Hess Midstream LP (NYSE:HESM) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,543 shares of the company’s stock after acquiring an additional 1,451 shares during the quarter. Pacer Advisors Inc.’s holdings in Hess Midstream were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of HESM. Naples Global Advisors LLC grew its holdings in Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock valued at $2,267,000 after purchasing an additional 300 shares during the period. ProShare Advisors LLC increased its holdings in Hess Midstream by 5.2% in the 1st quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock worth $244,000 after acquiring an additional 332 shares in the last quarter. Granite Group Advisors LLC lifted its holdings in Hess Midstream by 5.6% during the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares in the last quarter. Comerica Bank boosted its position in shares of 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, Peapack Gladstone Financial Corp increased its stake in shares of Hess Midstream by 5.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after purchasing an additional 484 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Down 2.2 %

Shares of HESM stock opened at $34.97 on Friday. The stock has a market cap of $7.72 billion, a P/E ratio of 15.82 and a beta of 1.52. The company’s fifty day simple moving average is $36.50 and its two-hundred day simple moving average is $35.97. 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 LP has a 52 week low of $27.57 and a 52 week high of $39.11.

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

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.64%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio (DPR) is 120.81%.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

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

Hess Midstream Company 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.