Tower Research Capital LLC TRC Increases Stock Position in Hess Midstream LP (NYSE:HESM)

Tower Research Capital LLC TRC raised its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 156.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,479 shares of the company's stock after purchasing an additional 9,435 shares during the quarter. Tower Research Capital LLC TRC's holdings in Hess Midstream were worth $573,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HITE Hedge Asset Management LLC purchased a new stake in shares of Hess Midstream in the fourth quarter valued at approximately $19,642,000. Raymond James Financial Inc. acquired a new stake in Hess Midstream in the fourth quarter valued at $12,976,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Hess Midstream during the 4th quarter worth $8,786,000. CIBC Private Wealth Group LLC boosted its position in shares of Hess Midstream by 54.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after purchasing an additional 222,358 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after purchasing an additional 191,175 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Price Performance

HESM stock traded up $0.45 on Friday, reaching $37.14. The company had a trading volume of 712,958 shares, compared to its average volume of 993,849. The company's fifty day moving average is $39.61 and its 200 day moving average is $38.40. The company has a market cap of $8.10 billion, a P/E ratio of 14.92 and a beta of 0.67. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a 1 year low of $33.59 and a 1 year high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The business's revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, research analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be paid 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 dividend yield of 7.64%. The ex-dividend date of this dividend is Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is currently 110.98%.

Insider Transactions at Hess Midstream

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HESM. Raymond James boosted their price objective 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. 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 report on Thursday, March 27th. Citigroup lifted 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. Finally, Wells Fargo & Company dropped their price target on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.