Northern Trust Corp raised its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,550 shares of the company's stock after purchasing an additional 12,939 shares during the quarter. Northern Trust Corp's holdings in Hess Midstream were worth $3,168,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. apricus wealth LLC lifted its stake in shares of Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock worth $685,000 after buying an additional 250 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Hess Midstream by 2.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after acquiring an additional 298 shares during the period. Virtus ETF Advisers LLC raised 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 worth $184,000 after buying an additional 432 shares during the period. Hardy Reed LLC lifted its holdings in Hess Midstream by 5.3% during the fourth quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock valued at $333,000 after purchasing an additional 450 shares in the last quarter. Finally, South Street Advisors LLC lifted its stake in Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock valued at $231,000 after buying an additional 450 shares in the last quarter. Institutional investors own 98.97% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on HESM. Wells Fargo & Company dropped their price objective on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Citigroup raised their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.
View Our Latest Research Report on Hess Midstream
Hess Midstream Price Performance
Hess Midstream stock traded down $0.92 during midday trading on Thursday, reaching $37.28. The company's stock had a trading volume of 6,186,962 shares, compared to its average volume of 1,011,481. 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 LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The stock's 50 day simple moving average is $38.28 and its 200 day simple moving average is $38.73. The firm has a market capitalization of $8.13 billion, a PE ratio of 14.97 and a beta of 0.67.
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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The business had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. During the same quarter in the previous year, the company posted $0.60 EPS. The business's revenue was up 7.4% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Thursday, May 8th were given a $0.7098 dividend. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 7.62%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is 110.98%.
Hess Midstream Company Profile
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Free Report)
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.
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