Hess Midstream LP (NYSE:HESM) Stock Position Raised by Leisure Capital Management

Leisure Capital Management lifted its stake in shares of Hess Midstream LP (NYSE:HESM) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,148 shares of the company’s stock after purchasing an additional 1,425 shares during the period. Leisure Capital Management’s holdings in Hess Midstream were worth $968,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tompkins Financial Corp purchased a new position in Hess Midstream during the third quarter valued at approximately $71,000. KBC Group NV grew its position in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hess Midstream during the 3rd quarter valued at $100,000. Icon Wealth Advisors LLC lifted its stake in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th.

Hess Midstream Price Performance

NYSE HESM opened at $40.57 on Monday. The stock has a 50-day simple moving average of $38.09 and a 200 day simple moving average of $36.79. Hess Midstream LP has a twelve month low of $32.15 and a twelve month high of $42.15. The stock has a market capitalization of $8.84 billion, a PE ratio of 16.29 and a beta of 1.53. 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 announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is presently 110.04%.

About Hess Midstream

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.