Hess Midstream LP (NYSE:HESM) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 108.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,313 shares of the company's stock after acquiring an additional 129,208 shares during the period. Algert Global LLC owned 0.11% of Hess Midstream worth $9,195,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HESM. Voleon Capital Management LP acquired a new position in shares of Hess Midstream during the fourth quarter worth $262,000. Northern Trust Corp increased its position in Hess Midstream by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after buying an additional 12,939 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Hess Midstream during the 4th quarter valued at about $1,308,000. Susquehanna Fundamental Investments LLC purchased a new stake in Hess Midstream in the fourth quarter valued at about $4,533,000. Finally, Virtus ETF Advisers LLC boosted its holdings in Hess Midstream by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hess Midstream

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

Hess Midstream Stock Performance

Shares of HESM stock traded down $0.06 during trading hours on Friday, hitting $37.01. The company's stock had a trading volume of 635,558 shares, compared to its average volume of 990,714. The stock has a market cap of $8.07 billion, a PE ratio of 14.86 and a beta of 0.67. Hess Midstream LP has a 12-month low of $33.59 and a 12-month high of $44.05. The company has a 50 day moving average of $39.22 and a 200 day moving average of $38.44. 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 (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The firm's revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. On average, sell-side 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 will be paid on Wednesday, May 14th. Investors of record on Thursday, May 8th will be given a dividend of $0.7098 per share. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.67%. The ex-dividend date is Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is currently 110.98%.

Analysts Set New Price Targets

Several brokerages recently commented on HESM. Wells Fargo & Company decreased 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 report on Thursday, May 1st. Citigroup raised their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Hess Midstream presently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

Hess Midstream Company 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.