Hess Midstream LP (NYSE:HESM) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. raised its stake in shares of Hess Midstream LP (NYSE:HESM) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,066 shares of the company’s stock after acquiring an additional 25,894 shares during the period. Graham Capital Management L.P.’s holdings in Hess Midstream were worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. apricus wealth LLC raised its position in Hess Midstream by 1.4% in the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock valued at $685,000 after purchasing an additional 250 shares during the period. Teamwork Financial Advisors LLC raised its holdings in shares of Hess Midstream by 2.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock valued at $483,000 after buying an additional 286 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Hess Midstream by 2.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock worth $439,000 after acquiring an additional 298 shares in the last quarter. Virtus ETF Advisers LLC boosted its holdings in Hess Midstream by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock valued at $184,000 after acquiring an additional 432 shares during the period. Finally, Hardy Reed LLC grew its position in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company’s stock valued at $333,000 after acquiring an additional 450 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HESM has been the subject of several recent research reports. Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup boosted their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their target price on Hess Midstream from $42.00 to $41.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hess Midstream Price Performance

Shares of HESM opened at $37.01 on Friday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 14.86 and a beta of 0.67. The firm’s fifty day simple moving average is $39.22 and its 200-day simple moving average is $38.44. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to analysts’ expectations of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Hess Midstream’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Equities analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be paid a $0.7098 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.67%. The ex-dividend date is Thursday, May 8th. Hess Midstream’s dividend payout ratio is currently 110.98%.

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.