Rockefeller Capital Management L.P. Makes New $759,000 Investment in Hess Midstream LP (NYSE:HESM)

Rockefeller Capital Management L.P. acquired a new stake in shares of Hess Midstream LP (NYSE:HESM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 21,527 shares of the company’s stock, valued at approximately $759,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its position in shares of Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after purchasing an additional 1,082,840 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Hess Midstream by 12.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock valued at $270,686,000 after purchasing an additional 822,311 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Hess Midstream by 23.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock worth $107,619,000 after acquiring an additional 562,688 shares during the period. TD Asset Management Inc boosted its holdings in shares of Hess Midstream by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock worth $125,046,000 after buying an additional 322,479 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after buying an additional 194,154 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Insider Buying and Selling

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

Hess Midstream Stock Down 3.7 %

Shares of NYSE HESM opened at $36.02 on Tuesday. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 15.26 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a 50-day moving average price of $35.90 and a two-hundred day moving average price of $36.18. Hess Midstream LP has a 12 month low of $30.08 and a 12 month high of $39.11.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $376.98 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced 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 is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 7.60%. The ex-dividend date 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.