Quantessence Capital LLC Purchases New Holdings in Hess Midstream LP (NYSE:HESM)

Quantessence Capital LLC acquired a new stake in Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,380 shares of the company's stock, valued at approximately $607,000.

Several other institutional investors and hedge funds have also modified their holdings of HESM. Steward Partners Investment Advisory LLC lifted its stake in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after buying an additional 579 shares in the last quarter. US Bancorp DE lifted its position in Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after acquiring an additional 510 shares in the last quarter. IFP Advisors Inc lifted its position in Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after acquiring an additional 733 shares in the last quarter. KBC Group NV boosted its stake in Hess Midstream by 80.0% in the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after purchasing an additional 2,243 shares during the period. Finally, Insigneo Advisory Services LLC bought a new position in Hess Midstream during the 4th quarter worth about $218,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HESM has been the topic of a number of research reports. Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Finally, Citigroup boosted their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Two investment 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.com, Hess Midstream presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Hess Midstream Stock Down 0.3 %

HESM stock traded down $0.11 during mid-day trading on Friday, reaching $38.85. The company had a trading volume of 752,476 shares, compared to its average volume of 995,020. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 15.60 and a beta of 1.14. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05. The stock has a 50 day simple moving average of $39.91 and a two-hundred day simple moving average of $38.32. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.22%. Hess Midstream's payout ratio is currently 112.45%.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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.