BNP Paribas Financial Markets Takes $977,000 Position in Hess Midstream LP (NYSE:HESM)

BNP Paribas Financial Markets purchased a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,380 shares of the company's stock, valued at approximately $977,000.

Several other hedge funds have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. grew its holdings in Hess Midstream by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after purchasing an additional 83,943 shares during the period. Invesco Ltd. grew its holdings in Hess Midstream by 4.9% during the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after purchasing an additional 191,175 shares during the period. Epoch Investment Partners Inc. grew its holdings in Hess Midstream by 5.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after purchasing an additional 165,933 shares during the period. Clearbridge Investments LLC grew its holdings in Hess Midstream by 11.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after purchasing an additional 184,290 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Hess Midstream by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,134,495 shares of the company's stock valued at $42,010,000 after acquiring an additional 30,200 shares in the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Price Performance

Shares of NYSE:HESM traded up $0.14 during mid-day trading on Monday, reaching $38.15. The stock had a trading volume of 695,376 shares, compared to its average volume of 991,462. 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 company has a market cap of $8.32 billion, a P/E ratio of 15.32 and a beta of 0.67. Hess Midstream LP has a 1 year low of $33.59 and a 1 year high of $44.05. The business's 50 day moving average price is $38.58 and its 200 day moving average price is $38.73.

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

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.44%. The ex-dividend date was Thursday, May 8th. Hess Midstream's payout ratio is currently 110.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HESM shares. JPMorgan Chase & Co. boosted their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Raymond James boosted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Two research 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 presently has an average rating of "Moderate Buy" and an average price target of $42.80.

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.