Zimmer Partners LP bought a new position in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 632,316 shares of the company's stock, valued at approximately $23,415,000. Zimmer Partners LP owned 0.29% of Hess Midstream as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of HESM. Stokes Capital Advisors LLC raised its position in shares of Hess Midstream by 1.2% during the fourth quarter. Stokes Capital Advisors LLC now owns 148,762 shares of the company's stock worth $5,509,000 after purchasing an additional 1,725 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Hess Midstream by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,970 shares of the company's stock worth $517,000 after purchasing an additional 1,024 shares during the period. Teamwork Financial Advisors LLC raised its position in shares of Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock worth $483,000 after purchasing an additional 286 shares during the period. apricus wealth LLC raised its position in Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock valued at $685,000 after buying an additional 250 shares during the period. Finally, KBC Group NV raised its position in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after buying an additional 2,243 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
HESM has been the topic of a number of recent research reports. Raymond James boosted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their target price on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.
Read Our Latest Analysis on HESM
Hess Midstream Stock Up 0.4%
Shares of HESM traded up $0.14 during trading hours on Friday, hitting $38.15. 695,376 shares of the company were exchanged, compared to its average volume of 991,462. The company has a market cap of $8.32 billion, a PE ratio of 15.32 and a beta of 0.67. The firm's 50 day moving average is $38.70 and its 200-day moving average is $38.68. Hess Midstream LP has a 52 week low of $33.59 and a 52 week high of $44.05. 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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, equities research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
Hess Midstream Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.44%. The ex-dividend date 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 110.98%.
About Hess Midstream
(
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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