Kesler Norman & Wride LLC Boosts Stock Position in Hess Midstream LP (NYSE:HESM)

Kesler Norman & Wride LLC boosted its position in Hess Midstream LP (NYSE:HESM) by 58.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,906 shares of the company’s stock after purchasing an additional 8,412 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Hess Midstream were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HESM. Yaupon Capital Management LP purchased a new stake in Hess Midstream in the 3rd quarter worth approximately $44,088,000. Soros Fund Management LLC purchased a new stake in shares of Hess Midstream in the third quarter valued at $14,108,000. Raymond James Financial Inc. purchased a new stake in shares of Hess Midstream in the fourth quarter valued at $12,976,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Hess Midstream in the 4th quarter worth about $8,786,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Hess Midstream by 54.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company’s stock worth $24,254,000 after buying an additional 222,358 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Performance

Hess Midstream stock opened at $42.47 on Wednesday. The firm has a market capitalization of $9.26 billion, a PE ratio of 17.05 and a beta of 1.48. Hess Midstream LP has a one year low of $32.75 and a one year high of $44.05. The stock’s 50 day moving average price is $41.21 and its 200 day moving average price is $38.15. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.60%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is currently 112.45%.

Analyst Ratings Changes

A number of research firms have recently commented on HESM. JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Citigroup upped their price target on shares of 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 boosted 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. Finally, Wells Fargo & Company upped their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.