Susquehanna Fundamental Investments LLC Has $6.27 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Susquehanna Fundamental Investments LLC lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 32.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,168 shares of the company’s stock after acquiring an additional 41,832 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.08% of Hess Midstream worth $6,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Naples Global Advisors LLC lifted its stake in Hess Midstream by 0.5% during the 2nd 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 in the last quarter. ProShare Advisors LLC raised its holdings in shares of Hess Midstream by 4.8% in the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after purchasing an additional 323 shares during the last quarter. Granite Group Advisors LLC lifted its position in shares of Hess Midstream by 5.6% during the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares in the last quarter. Comerica Bank boosted its holdings in Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its position in Hess Midstream by 5.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after purchasing an additional 484 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Hess Midstream Stock Up 0.6 %

HESM opened at $35.19 on Friday. Hess Midstream LP has a twelve month low of $27.57 and a twelve month high of $39.11. The company’s 50-day moving average price is $36.43 and its two-hundred day moving average price is $35.97. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 15.92 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55.

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

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.6677 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.67 annualized dividend and a dividend yield of 7.59%. Hess Midstream’s dividend payout ratio is presently 120.81%.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

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

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.