Mackenzie Financial Corp Sells 143,733 Shares of Hess Midstream LP (NYSE:HESM)

Mackenzie Financial Corp lowered its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 53.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,143 shares of the company's stock after selling 143,733 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of Hess Midstream worth $4,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HESM. Steward Partners Investment Advisory LLC boosted its position in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after acquiring an additional 579 shares during the period. US Bancorp DE boosted its position in Hess Midstream by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after acquiring an additional 510 shares during the period. IFP Advisors Inc boosted its position in Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after acquiring an additional 733 shares during the period. Virtus ETF Advisers LLC boosted its position in Hess Midstream by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares during the period. Finally, KBC Group NV boosted its position in Hess Midstream by 80.0% during the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after acquiring an additional 2,243 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Stock Down 0.9%

Shares of NYSE HESM traded down $0.33 during trading hours on Friday, hitting $36.95. The stock had a trading volume of 2,837,701 shares, compared to its average volume of 1,001,429. The company has a market capitalization of $8.06 billion, a P/E ratio of 14.84 and a beta of 0.67. The firm's 50-day moving average price is $38.16 and its two-hundred day moving average price is $38.78. Hess Midstream LP has a 52 week low of $33.59 and a 52 week high of $44.05. 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 - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm'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 EPS. Analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 7.68%. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio is presently 110.98%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective 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 decreased their price objective on 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. Finally, Citigroup lifted their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $42.80.

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.