Dividend Assets Capital LLC Acquires 9,446 Shares of Hess Midstream LP (NYSE:HESM)

Dividend Assets Capital LLC raised its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 37.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,569 shares of the company's stock after purchasing an additional 9,446 shares during the quarter. Dividend Assets Capital LLC's holdings in Hess Midstream were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in shares of Hess Midstream by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after acquiring an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after acquiring an additional 579 shares during the last quarter. US Bancorp DE raised its position in shares of Hess Midstream by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after acquiring an additional 510 shares during the last quarter. IFP Advisors Inc raised its position in shares of Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after acquiring an additional 733 shares during the last quarter. Finally, Virtus ETF Advisers LLC raised its position in shares of Hess Midstream by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after acquiring an additional 432 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Trading Up 0.2%

Shares of HESM stock traded up $0.06 on Friday, hitting $39.51. The stock had a trading volume of 1,788,192 shares, compared to its average volume of 1,008,012. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The firm has a market cap of $8.51 billion, a P/E ratio of 15.87 and a beta of 0.63. 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 fifty day moving average price of $37.78 and a two-hundred day moving average price of $38.93.

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

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were issued a $0.7098 dividend. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, May 8th. This represents a $2.84 annualized dividend and a dividend yield of 7.19%. Hess Midstream's payout ratio is 110.98%.

Insider Buying and Selling

In related news, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup upped their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently 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.