Amundi Increases Stake in Hess Midstream LP (NYSE:HESM)

Amundi boosted its holdings in Hess Midstream LP (NYSE:HESM) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,926 shares of the company’s stock after buying an additional 626 shares during the period. Amundi’s holdings in Hess Midstream were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Hess Midstream by 147.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 200,062 shares of the company’s stock worth $7,056,000 after buying an additional 119,277 shares in the last quarter. Swiss National Bank boosted its holdings in Hess Midstream by 13.1% in the third quarter. Swiss National Bank now owns 200,000 shares of the company’s stock valued at $7,054,000 after purchasing an additional 23,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock valued at $13,370,000 after buying an additional 128,009 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Hess Midstream by 19.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 67,939 shares of the company’s stock worth $2,396,000 after purchasing an additional 11,061 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company increased their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Citigroup increased their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James increased their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Trading Down 1.9 %

Shares of NYSE HESM opened at $42.71 on Friday. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 17.15 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $44.05. 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’s 50 day simple moving average is $40.88 and its 200 day simple moving average is $37.81.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

About Hess Midstream

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.