Hess Midstream LP (NYSE:HESM) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,167,876 shares of the company's stock after buying an additional 887,859 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 1.38% of Hess Midstream worth $100,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its position in shares of Hess Midstream by 6.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock worth $174,000 after purchasing an additional 358 shares during the last quarter. Legal & General Group Plc raised its position in Hess Midstream by 3.2% in the 4th quarter. Legal & General Group Plc now owns 11,672 shares of the company's stock worth $349,000 after buying an additional 360 shares during the last quarter. California State Teachers Retirement System raised its position in Hess Midstream by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 28,844 shares of the company's stock worth $865,000 after buying an additional 411 shares during the last quarter. Guggenheim Capital LLC raised its position in Hess Midstream by 5.6% in the 1st quarter. Guggenheim Capital LLC now owns 9,602 shares of the company's stock worth $288,000 after buying an additional 510 shares during the last quarter. Finally, NBW Capital LLC raised its position in Hess Midstream by 0.3% in the 4th quarter. NBW Capital LLC now owns 185,916 shares of the company's stock worth $5,563,000 after buying an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Hess Midstream Stock Performance

Shares of NYSE:HESM traded down $0.51 during mid-day trading on Friday, reaching $35.74. 844,007 shares of the company traded hands, compared to its average volume of 811,755. The company's 50 day moving average price is $34.62 and its 200-day moving average price is $32.20. The firm has a market cap of $8.09 billion, a PE ratio of 17.10 and a beta of 1.50. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. Hess Midstream LP has a 52 week low of $26.86 and a 52 week high of $36.84.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.05). The company had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The company's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. On average, equities analysts expect that Hess Midstream LP will post 2.55 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.6343 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This is an increase from Hess Midstream's previous quarterly dividend of $0.62. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.10%. Hess Midstream's payout ratio is 121.05%.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of brokerages have weighed in on HESM. JPMorgan Chase & Co. lowered Hess Midstream from an "overweight" rating to a "neutral" rating and set a $37.00 target price for the company. in a research report on Friday, March 8th. UBS Group boosted their price target on Hess Midstream from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Three 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.50.

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.