Hess Midstream LP (NYSE:HESM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Hess Midstream LP (NYSE:HESM - Free Report) by 4,809.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,587 shares of the company's stock after acquiring an additional 11,351 shares during the period. GAMMA Investing LLC's holdings in Hess Midstream were worth $4,900,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its holdings in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after purchasing an additional 579 shares during the period. US Bancorp DE raised its stake in Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after purchasing an additional 510 shares during the period. IFP Advisors Inc boosted its holdings in shares of Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. Virtus ETF Advisers LLC grew its stake 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 buying an additional 432 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new stake in shares of Hess Midstream during the 4th quarter valued at $218,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream 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.

Hess Midstream Stock Up 0.3%

Shares of HESM traded up $0.12 during midday trading on Thursday, reaching $39.40. 753,613 shares of the company were exchanged, compared to its average volume of 1,005,513. Hess Midstream LP has a 1-year low of $33.59 and a 1-year high of $44.05. The stock has a 50-day moving average price of $37.70 and a 200-day moving average price of $38.91. 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 $8.49 billion, a price-to-earnings ratio of 15.82 and a beta of 0.63.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business 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 company's revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. This is a boost 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 7.21%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream's payout ratio is presently 110.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup increased their target price 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. 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, Hess Midstream currently has a consensus 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.