Hess Midstream LP (NYSE:HESM) Shares Purchased by KBC Group NV

KBC Group NV raised its stake in Hess Midstream LP (NYSE:HESM) by 83.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,803 shares of the company’s stock after acquiring an additional 1,279 shares during the quarter. KBC Group NV’s holdings in Hess Midstream were worth $99,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. boosted its position in Hess Midstream by 126.8% during the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after acquiring an additional 1,082,840 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Hess Midstream by 12.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock worth $270,686,000 after purchasing an additional 822,311 shares during the last quarter. BROOKFIELD Corp ON increased its stake in Hess Midstream by 434.8% in the first quarter. BROOKFIELD Corp ON now owns 843,577 shares of the company’s stock valued at $30,478,000 after purchasing an additional 685,847 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in Hess Midstream by 23.5% in the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock valued at $107,619,000 after purchasing an additional 562,688 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Hess Midstream by 10.4% during the second quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock worth $125,046,000 after buying an additional 322,479 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of the business’s 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 transaction, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The disclosure for this sale can be found here.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $36.82 on Friday. The stock has a market capitalization of $8.03 billion, a PE ratio of 15.60 and a beta of 1.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a fifty day moving average of $35.62 and a 200-day moving average of $36.02. Hess Midstream LP has a 52-week low of $30.08 and a 52-week high of $39.11.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.6846 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 annualized dividend and a yield of 7.44%. Hess Midstream’s dividend payout ratio (DPR) is presently 115.68%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st.

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.