Aquatic Capital Management LLC Buys New Stake in Hess Midstream LP (NYSE:HESM)

Aquatic Capital Management LLC acquired a new position in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 35,322 shares of the company's stock, valued at approximately $1,308,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC acquired a new position in shares of Hess Midstream during the 4th quarter valued at about $19,642,000. Raymond James Financial Inc. purchased a new position in Hess Midstream during the fourth quarter worth about $12,976,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Hess Midstream in the 4th quarter valued at about $8,786,000. CIBC Private Wealth Group LLC grew its stake in shares of Hess Midstream by 54.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock valued at $24,254,000 after buying an additional 222,358 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after buying an additional 191,175 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Analyst Ratings Changes

HESM has been the subject of several analyst reports. Citigroup increased their price objective 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 raised their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Two 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Trading Up 1.2 %

Hess Midstream stock traded up $0.45 during midday trading on Friday, reaching $37.14. 712,958 shares of the stock traded hands, compared to its average volume of 992,139. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a market cap of $8.10 billion, a PE ratio of 14.92 and a beta of 1.14. The company has a 50-day simple moving average of $39.61 and a two-hundred day simple moving average of $38.37. Hess Midstream LP has a 12-month low of $33.59 and a 12-month high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $382.00 million during the quarter, compared to analysts' expectations of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th will be paid a $0.7098 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is presently 112.45%.

Insider Activity at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were 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 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.