Oppenheimer Asset Management Inc. Has $408,000 Position in Hess Midstream LP (NYSE:HESM)

Oppenheimer Asset Management Inc. grew its stake in Hess Midstream LP (NYSE:HESM) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,559 shares of the company’s stock after purchasing an additional 1,032 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hess Midstream were worth $408,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Naples Global Advisors LLC lifted its stake in Hess Midstream by 0.5% in the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock valued at $2,267,000 after acquiring an additional 300 shares during the last quarter. ProShare Advisors LLC increased its position in Hess Midstream by 4.8% during the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock worth $258,000 after buying an additional 323 shares during the last quarter. Granite Group Advisors LLC raised its stake in Hess Midstream by 5.6% in the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after buying an additional 375 shares during the period. Comerica Bank lifted 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 valued at $201,000 after buying an additional 385 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Hess Midstream during the 1st quarter worth approximately $30,000. Institutional investors own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hess Midstream Trading Up 1.1 %

Shares of NYSE:HESM opened at $36.31 on Wednesday. Hess Midstream LP has a 12-month low of $30.08 and a 12-month high of $39.11. The business has a 50 day moving average of $35.60 and a 200-day moving average of $36.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market cap of $7.92 billion, a PE ratio of 15.39 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, equities research analysts forecast that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a yield of 7.54%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s dividend payout ratio (DPR) is currently 116.10%.

Hess Midstream 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.