Lindbrook Capital LLC Buys 1,377 Shares of Hess Midstream LP (NYSE:HESM)

Lindbrook Capital LLC boosted its stake in Hess Midstream LP (NYSE:HESM) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 22,935 shares of the company’s stock after purchasing an additional 1,377 shares during the quarter. Lindbrook Capital LLC’s holdings in Hess Midstream were worth $849,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HESM. Yaupon Capital Management LP purchased a new position in Hess Midstream during the third quarter valued at $44,088,000. Soros Fund Management LLC purchased a new position in Hess Midstream during the third quarter valued at $14,108,000. Raymond James Financial Inc. purchased a new position in Hess Midstream during the fourth quarter valued at $12,976,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Hess Midstream during the fourth quarter valued at $8,786,000. Finally, Kayne Anderson Capital Advisors LP lifted its position in Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after buying an additional 194,154 shares during the period. Institutional investors own 98.97% of the company’s stock.

Analyst Ratings Changes

HESM has been the subject of several recent analyst reports. Citigroup lifted their price target on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Raymond James lifted their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess Midstream has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s 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 filing with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $39.81 on Friday. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $42.31. The business has a 50-day simple moving average of $39.86 and a two-hundred day simple moving average of $37.40. 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 firm has a market cap of $8.68 billion, a price-to-earnings ratio of 15.99 and a beta of 1.48.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 7.05%. Hess Midstream’s payout ratio is 112.45%.

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.