Hess Midstream LP (NYSE:HESM) Position Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in shares of Hess Midstream LP (NYSE:HESM) by 19.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,939 shares of the company’s stock after acquiring an additional 11,061 shares during the period. Advisors Asset Management Inc.’s holdings in Hess Midstream were worth $2,396,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted 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 Price Performance

Shares of NYSE:HESM opened at $36.78 on Friday. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 15.58 and a beta of 1.51. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 12 month low of $30.08 and a 12 month high of $39.11. The stock’s 50 day moving average price is $35.62 and its 200 day moving average price is $36.03.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 7.45%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s dividend payout ratio is presently 116.10%.

Insider Activity

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hess Midstream Company 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.