NBC Securities Inc. Purchases 27,853 Shares of Hess Midstream LP (NYSE:HESM)

NBC Securities Inc. grew its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 107,126.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,879 shares of the company's stock after buying an additional 27,853 shares during the period. NBC Securities Inc.'s holdings in Hess Midstream were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HESM. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 buying an additional 579 shares during the period. US Bancorp DE boosted 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 purchasing an additional 510 shares in the last quarter. IFP Advisors Inc raised 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 worth $109,000 after purchasing an additional 733 shares in the last quarter. Virtus ETF Advisers LLC lifted its stake in Hess Midstream by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after purchasing an additional 432 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after buying an additional 2,243 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was 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 SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Citigroup increased their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.80.

Hess Midstream Stock Up 1.8%

Shares of HESM traded up $0.70 during midday trading on Friday, reaching $39.07. 312,503 shares of the stock were exchanged, compared to its average volume of 1,005,170. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 15.69 and a beta of 0.67. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $33.59 and a 12-month high of $44.05. The firm has a 50 day simple moving average of $37.79 and a 200-day simple moving average of $38.83.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 14.92% and a return on equity of 54.59%. Hess Midstream's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.27%. Hess Midstream's dividend payout ratio is currently 110.98%.

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.