Westwood Holdings Group Inc. Reduces Stock Position in Hess Midstream LP (NYSE:HESM)

Westwood Holdings Group Inc. trimmed its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 30.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,380,299 shares of the company's stock after selling 594,382 shares during the period. Westwood Holdings Group Inc. owned approximately 0.63% of Hess Midstream worth $51,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position 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 purchasing an additional 579 shares in the last quarter. US Bancorp DE increased its position in shares of Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares during the period. IFP Advisors Inc lifted its holdings in shares of Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after buying an additional 733 shares in the last quarter. Virtus ETF Advisers LLC grew 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 acquiring an additional 432 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of 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 last quarter. Institutional investors own 98.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Citigroup upped their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James boosted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut 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 assigned a buy rating to the company. According to data from MarketBeat, Hess Midstream currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Hess Midstream Trading Up 0.1%

NYSE HESM opened at $38.88 on Monday. The stock has a market cap of $8.48 billion, a P/E ratio of 15.61 and a beta of 0.67. Hess Midstream LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The stock has a 50 day simple moving average of $39.07 and a two-hundred day simple moving average of $38.59. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share 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 for the quarter, compared to analysts' expectations of $384.28 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were given a $0.7098 dividend. 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.30%. 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.

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