Stephens Inc. AR Takes $3.26 Million Position in Hess Midstream LP (NYSE:HESM)

Stephens Inc. AR bought a new stake in shares of Hess Midstream LP (NYSE:HESM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 92,281 shares of the company’s stock, valued at approximately $3,255,000.

A number of other hedge funds have also recently modified their holdings of HESM. Allspring Global Investments Holdings LLC bought a new position in Hess Midstream in the first quarter worth approximately $30,000. Clear Point Advisors Inc. bought a new position in Hess Midstream in the first quarter worth approximately $49,000. Geneos Wealth Management Inc. grew its stake in Hess Midstream by 31.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares in the last quarter. Comerica Bank grew its stake in 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 in the last quarter. Finally, South Street Advisors LLC bought a new position in Hess Midstream in the second quarter worth approximately $211,000. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Stock Down 0.1 %

Hess Midstream stock opened at $34.61 on Monday. The business has a fifty day moving average of $35.91 and a two-hundred day moving average of $35.96. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. The firm has a market cap of $7.64 billion, a P/E ratio of 14.67 and a beta of 1.51. Hess Midstream LP has a twelve month low of $29.20 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a return on equity of 49.72% and a net margin of 13.06%. Hess Midstream’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, analysts forecast that Hess Midstream LP will post 2.35 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a dividend yield of 7.91%. The ex-dividend date is Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is currently 113.14%.

Insider Activity

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

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st.

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.