MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 496,464 Shares of Hess Midstream LP (NYSE:HESM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,011,069 shares of the company's stock after purchasing an additional 496,464 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.30% of Hess Midstream worth $185,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in HESM. Steward Partners Investment Advisory LLC boosted its stake in shares of Hess Midstream by 77.2% during 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 during the period. US Bancorp DE raised its holdings in Hess Midstream by 34.0% during the 4th 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 last quarter. IFP Advisors Inc boosted its position in Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after buying an additional 733 shares during the period. Virtus ETF Advisers LLC grew its holdings in Hess Midstream by 9.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Hess Midstream by 80.0% in the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after acquiring an additional 2,243 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Wall Street Analyst Weigh In

HESM has been the subject of a number of analyst reports. 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. Citigroup increased their price objective on 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 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. Finally, Wells Fargo & Company decreased their target price on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Stock Down 0.4%

HESM traded down $0.17 on Wednesday, hitting $38.80. The company had a trading volume of 704,021 shares, compared to its average volume of 988,329. The stock has a fifty day simple moving average of $39.13 and a 200-day simple moving average of $38.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $8.46 billion, a P/E ratio of 15.58 and a beta of 0.67. Hess Midstream LP has a 52-week low of $33.59 and a 52-week high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its 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. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same quarter in the prior year, the company earned $0.60 EPS. The business's revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.7098 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date is Thursday, May 8th. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's payout ratio is 110.98%.

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.