Miller Howard Investments Inc. NY Purchases 88,055 Shares of Hess Midstream LP (NYSE:HESM)

Miller Howard Investments Inc. NY raised its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,462 shares of the company's stock after acquiring an additional 88,055 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.25% of Hess Midstream worth $18,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Hess Midstream in the 3rd quarter worth approximately $32,000. DekaBank Deutsche Girozentrale purchased a new stake in Hess Midstream in the 3rd quarter worth approximately $41,000. Dark Forest Capital Management LP purchased a new stake in Hess Midstream in the 1st quarter worth $53,000. Great West Life Assurance Co. Can grew its holdings in Hess Midstream by 83.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company's stock valued at $56,000 after buying an additional 804 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in shares of Hess Midstream in the third quarter worth about $71,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Stock Performance

Shares of NYSE:HESM traded up $0.02 on Tuesday, reaching $36.06. The company's stock had a trading volume of 766,345 shares, compared to its average volume of 917,843. The stock has a market capitalization of $8.16 billion, a P/E ratio of 17.32 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. The stock's 50-day moving average is $34.66 and its two-hundred day moving average is $32.25. 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 posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share 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 analyst estimates of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. As a group, sell-side analysts forecast that Hess Midstream LP will post 2.55 EPS for the current 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 given a dividend of $0.6343 per share. This represents a $2.54 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date was Wednesday, February 7th. This is a boost from Hess Midstream's previous quarterly dividend of $0.62. Hess Midstream's dividend payout ratio (DPR) is currently 121.53%.

Wall Street Analysts Forecast Growth

HESM has been the topic of several analyst reports. UBS Group boosted their target price on Hess Midstream from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. downgraded shares of Hess Midstream from an "overweight" rating to a "neutral" rating and set a $37.00 target price for the company. in a report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.50.

Insider Activity

In other Hess Midstream 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 shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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.