Marshall Wace LLP Sells 183,259 Shares of Hess Midstream LP (NYSE:HESM)

Marshall Wace LLP trimmed its holdings in shares of Hess Midstream LP (NYSE:HESM) by 47.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,660 shares of the company’s stock after selling 183,259 shares during the quarter. Marshall Wace LLP’s holdings in Hess Midstream were worth $7,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Hess Midstream during the first quarter worth about $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream during the first quarter valued at approximately $49,000. Geneos Wealth Management Inc. grew its stake in Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after buying an additional 500 shares in the last quarter. Comerica Bank grew its stake in Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after buying an additional 385 shares in the last quarter. Finally, South Street Advisors LLC bought a new position in shares of Hess Midstream in the 2nd quarter worth $211,000. 92.41% of the stock is currently owned by institutional investors.

Hess Midstream Stock Up 0.2 %

Shares of NYSE:HESM opened at $35.27 on Tuesday. The stock has a market capitalization of $7.88 billion, a P/E ratio of 15.96 and a beta of 1.52. The stock’s 50-day moving average price is $36.36 and its 200-day moving average price is $35.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 12-month low of $27.57 and a 12-month high of $39.11.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results 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 business had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. Hess Midstream’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. On average, equities analysts anticipate 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. Shareholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.57%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio is presently 120.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HESM. JPMorgan Chase & Co. upped 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 research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.