Sanctuary Advisors LLC Has $469,000 Stock Holdings in Hess Midstream LP (NYSE:HESM)

Sanctuary Advisors LLC raised its stake in Hess Midstream LP (NYSE:HESM) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,758 shares of the company’s stock after acquiring an additional 561 shares during the period. Sanctuary Advisors LLC’s holdings in Hess Midstream were worth $469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HESM. Tompkins Financial Corp acquired a new position in shares of Hess Midstream in the 3rd quarter valued at approximately $71,000. KBC Group NV raised its position in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in Hess Midstream during the third quarter worth $100,000. Icon Wealth Advisors LLC boosted its holdings in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Insiders Place Their Bets

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hess Midstream Price Performance

Shares of HESM stock opened at $36.37 on Friday. The business has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $36.29. The company has a market cap of $7.93 billion, a P/E ratio of 15.41 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a twelve month low of $30.72 and a twelve month high of $39.11.

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

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 7.53%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is currently 115.68%.

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.