NBC Securities Inc. Raises Stock Position in Hess Midstream LP (NYSE:HESM)

NBC Securities Inc. increased its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 107,126.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,879 shares of the company's stock after purchasing an additional 27,853 shares during the period. NBC Securities Inc.'s holdings in Hess Midstream were worth $1,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in shares of Hess Midstream during the fourth quarter valued at about $525,000. Van ECK Associates Corp increased its position in shares of Hess Midstream by 75.1% during the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock valued at $879,000 after acquiring an additional 10,175 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Hess Midstream by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock valued at $4,450,000 after acquiring an additional 3,412 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Hess Midstream by 6.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company's stock valued at $14,920,000 after acquiring an additional 23,844 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Hess Midstream by 17.8% during the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after acquiring an additional 12,939 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target 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. Citigroup lifted their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Stock Up 1.6%

Shares of NYSE HESM traded up $0.60 during midday trading on Friday, hitting $38.97. The company's stock had a trading volume of 711,820 shares, compared to its average volume of 1,007,954. The business's fifty day simple moving average is $37.72 and its two-hundred day simple moving average is $38.84. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 1 year low of $33.59 and a 1 year high of $44.05. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 15.65 and a beta of 0.63.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 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 business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were paid a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 7.29%. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's payout ratio is currently 110.98%.

Insider Buying and Selling

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

Hess Midstream 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.