Westwood Holdings Group Inc. Has $51.11 Million Stake in Hess Midstream LP (NYSE:HESM)

Westwood Holdings Group Inc. decreased its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,380,299 shares of the company's stock after selling 594,382 shares during the quarter. Westwood Holdings Group Inc. owned 0.63% of Hess Midstream worth $51,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HESM. Point72 Asset Management L.P. acquired a new position in Hess Midstream during the fourth quarter worth about $1,684,000. ProShare Advisors LLC raised its stake in Hess Midstream by 5.7% during the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after acquiring an additional 429 shares in the last quarter. Palo Duro Investment Partners LP acquired a new position in Hess Midstream during the fourth quarter worth about $220,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Hess Midstream by 11.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock worth $185,560,000 after acquiring an additional 496,464 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Hess Midstream by 9.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,011 shares of the company's stock worth $555,000 after acquiring an additional 1,355 shares in the last quarter. Institutional investors own 98.97% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on HESM shares. Wells Fargo & Company lowered their target price on 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 Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Raymond James upped their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Citigroup upped their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Hess Midstream Trading Up 0.4%

NYSE:HESM traded up $0.14 on Friday, reaching $38.15. 695,376 shares of the stock traded hands, compared to its average volume of 989,136. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 15.32 and a beta of 0.67. The company's 50 day moving average is $38.70 and its 200-day moving average is $38.66. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 1-year low of $33.59 and a 1-year high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last released its 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 during 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%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company 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. This represents a $2.84 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio is currently 110.98%.

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.