Hess Midstream LP (NYSE:HESM) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG grew its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 56.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,405,510 shares of the company's stock after purchasing an additional 506,430 shares during the period. Deutsche Bank AG owned approximately 0.64% of Hess Midstream worth $52,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HITE Hedge Asset Management LLC acquired a new stake in Hess Midstream in the fourth quarter valued at $19,642,000. Raymond James Financial Inc. acquired a new stake in shares of Hess Midstream in the 4th quarter valued at about $12,976,000. Corigliano Investment Advisers LLC bought a new position in shares of Hess Midstream during the fourth quarter worth about $9,535,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Hess Midstream during the fourth quarter worth about $8,786,000. Finally, CIBC Private Wealth Group LLC grew its stake in Hess Midstream by 54.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after purchasing an additional 222,358 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HESM. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. raised their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Citigroup lifted their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, Raymond James increased their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.80.

Hess Midstream Stock Performance

HESM stock opened at $38.24 on Tuesday. Hess Midstream LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $8.34 billion, a P/E ratio of 15.36 and a beta of 0.67. The company has a 50-day simple moving average of $39.18 and a 200 day simple moving average of $38.48.

Hess Midstream (NYSE:HESM - Get Free Report) last issued 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. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. During the same period in the prior year, the company earned $0.60 EPS. Hess Midstream's revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be issued a $0.7098 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.42%. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date is Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is presently 110.98%.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

About Hess Midstream

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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