Westwood Holdings Group Inc. Has $70.57 Million Stock Holdings in Hess Midstream LP (NYSE:HESM)

Westwood Holdings Group Inc. raised its holdings in Hess Midstream LP (NYSE:HESM) by 126.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,936,522 shares of the company’s stock after acquiring an additional 1,082,840 shares during the period. Westwood Holdings Group Inc.’s holdings in Hess Midstream were worth $70,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Hess Midstream during the first quarter valued at about $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream in the 1st quarter valued at $49,000. Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream by 31.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares during the period. Comerica Bank increased its stake in 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 acquiring an additional 385 shares during the period. Finally, South Street Advisors LLC acquired a new position in Hess Midstream in the second quarter worth about $211,000. 92.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hess Midstream Trading Down 0.3 %

Shares of NYSE HESM opened at $35.57 on Friday. Hess Midstream LP has a 1-year low of $27.57 and a 1-year high of $39.11. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The company has a 50-day moving average of $36.73 and a two-hundred day moving average of $35.96. The company has a market cap of $7.95 billion, a PE ratio of 16.10 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. As a group, equities analysts expect that Hess Midstream LP will post 2.36 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a $0.6677 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.51%. Hess Midstream’s dividend payout ratio (DPR) is currently 120.81%.

Analysts Set New Price Targets

A number of research firms have weighed in on HESM. JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group raised their target price on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.