Marshall Wace LLP trimmed its holdings in shares of Hess Midstream LP (NYSE:HESM – Free Report) by 47.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,660 shares of the company’s stock after selling 183,259 shares during the quarter. Marshall Wace LLP’s holdings in Hess Midstream were worth $7,458,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Hess Midstream during the first quarter worth about $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream during the first quarter valued at approximately $49,000. Geneos Wealth Management Inc. grew its stake in Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after buying an additional 500 shares in the last quarter. Comerica Bank grew its stake in Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after buying an additional 385 shares in the last quarter. Finally, South Street Advisors LLC bought a new position in shares of Hess Midstream in the 2nd quarter worth $211,000. 92.41% of the stock is currently owned by institutional investors.
Hess Midstream Stock Up 0.2 %
Shares of NYSE:HESM opened at $35.27 on Tuesday. The stock has a market capitalization of $7.88 billion, a P/E ratio of 15.96 and a beta of 1.52. The stock’s 50-day moving average price is $36.36 and its 200-day moving average price is $35.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 12-month low of $27.57 and a 12-month high of $39.11.
Hess Midstream Increases Dividend
The company also recently declared 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 7.57%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio is presently 120.81%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on HESM. JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group lifted their price target on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.
Insider Buying and Selling at Hess Midstream
In other 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 transaction of $444,268,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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.
See Also
- Five stocks we like better than Hess Midstream
- What Does a Stock Split Mean?
- TJX Stock: A Buying Opportunity Before the Holiday Rush
- Stock Market Sectors: What Are They and How Many Are There?
- Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge
- Following Congress Stock Trades
- Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth
Want to see what other hedge funds are holding HESM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Midstream LP (NYSE:HESM – Free Report).
Receive News & Ratings for Hess Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Midstream and related companies with MarketBeat.com's FREE daily email newsletter.