F&V Capital Management LLC Acquires 1,500 Shares of Hess Midstream LP (NYSE:HESM)

F&V Capital Management LLC grew its stake in Hess Midstream LP (NYSE:HESM) by 16.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the company’s stock after purchasing an additional 1,500 shares during the period. F&V Capital Management LLC’s holdings in Hess Midstream were worth $379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Peapack Gladstone Financial Corp raised its position in Hess Midstream by 5.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after purchasing an additional 484 shares in the last quarter. WBI Investments LLC boosted its stake in shares of Hess Midstream by 3.3% in the 4th quarter. WBI Investments LLC now owns 29,694 shares of the company’s stock valued at $939,000 after purchasing an additional 938 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Hess Midstream by 183.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after purchasing an additional 1,159 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Hess Midstream during the 3rd quarter worth about $41,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Hess Midstream by 348.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of Hess Midstream stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $34.02, for a total value of $51,030,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HESM shares. JPMorgan Chase & Co. boosted their price objective on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company boosted their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Hess Midstream Stock Down 0.6 %

Shares of Hess Midstream stock traded down $0.22 during trading on Wednesday, reaching $36.48. The stock had a trading volume of 707,998 shares, compared to its average volume of 961,021. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 8.67. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 16.51 and a beta of 1.49. Hess Midstream LP has a 52 week low of $27.57 and a 52 week high of $37.13. The stock has a fifty day moving average price of $35.13 and a two-hundred day moving average price of $34.15.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. The firm had revenue of $355.60 million during the quarter, compared to the consensus estimate of $354.98 million. Sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd were paid a $0.6516 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 annualized dividend and a yield of 7.14%. The ex-dividend date was Wednesday, May 1st. Hess Midstream’s payout ratio is presently 118.10%.

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.