5,137 Shares in Hess Midstream LP (NYSE:HESM) Bought by Capital Investment Advisors LLC

Capital Investment Advisors LLC purchased a new stake in shares of Hess Midstream LP (NYSE:HESM) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,137 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds have also recently made changes to their positions in HESM. Empowered Funds LLC increased its stake in shares of Hess Midstream by 12.4% in the fourth quarter. Empowered Funds LLC now owns 81,171 shares of the company’s stock worth $3,006,000 after acquiring an additional 8,972 shares during the period. Naples Global Advisors LLC increased its stake in Hess Midstream by 0.9% during the 4th quarter. Naples Global Advisors LLC now owns 64,175 shares of the company’s stock worth $2,376,000 after buying an additional 600 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Hess Midstream by 75.1% during the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock worth $879,000 after purchasing an additional 10,175 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Hess Midstream by 0.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 195,231 shares of the company’s stock valued at $7,229,000 after buying an additional 1,000 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Hess Midstream by 61.0% in the 4th quarter. Sanctuary Advisors LLC now owns 20,539 shares of the company’s stock valued at $761,000 after acquiring an additional 7,781 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HESM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price target on Hess Midstream from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Hess Midstream presently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $39.27 on Thursday. The company has a 50-day simple moving average of $37.63 and a 200-day simple moving average of $38.89. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 15.77 and a beta of 0.63. Hess Midstream LP has a one year low of $33.59 and a one year high of $44.05.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date was Thursday, May 8th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.70. Hess Midstream’s dividend payout ratio is currently 110.98%.

Insider Buying and Selling

In other news, Director Geurt G. Schoonman sold 3,249 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The disclosure for this sale can be found here.

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.