Infrastructure Capital Advisors LLC lifted its position in Hess Midstream LP (NYSE:HESM) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,668 shares of the company’s stock after buying an additional 2,146 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Hess Midstream were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Hess Midstream in the first quarter worth $211,000. Janus Henderson Group PLC acquired a new position in Hess Midstream during the 1st quarter worth about $2,135,000. Catalyst Capital Advisors LLC lifted its position in Hess Midstream by 33.7% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 82,398 shares of the company’s stock valued at $2,081,000 after purchasing an additional 20,780 shares during the period. Yaupon Capital Management LP acquired a new position in Hess Midstream during the 1st quarter valued at about $4,484,000. Finally, Bramshill Investments LLC increased its stake in shares of Hess Midstream by 16.3% in the 1st quarter. Bramshill Investments LLC now owns 42,181 shares of the company’s stock valued at $946,000 after acquiring an additional 5,899 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.
In related news, Director Corp Hess sold 4,312,500 shares of Hess Midstream stock in a transaction that occurred on Friday, October 8th. The stock was sold at an average price of $25.12, for a total value of $108,330,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 28th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.08. The firm had revenue of $294.80 million for the quarter. Equities research analysts expect that Hess Midstream LP will post 1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 9th were paid a dividend of $0.504 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 7.53%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 6th. Hess Midstream’s dividend payout ratio (DPR) is presently 154.20%.
A number of analysts recently issued reports on HESM shares. UBS Group cut Hess Midstream from a “buy” rating to a “neutral” rating and set a $29.00 target price for the company. in a research note on Friday, October 1st. Wells Fargo & Company raised their price target on shares of Hess Midstream from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Morgan Stanley increased their price objective on Hess Midstream from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, August 26th. Citigroup downgraded Hess Midstream from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, September 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Hess Midstream from a “buy” rating to a “hold” rating in a report on Monday, August 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Buy” and a consensus price target of $27.89.
Hess Midstream Company Profile
Hess Midstream LP engages in the ownership, development and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression.
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