Hess Midstream LP (NYSE:HESM) Position Reduced by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC reduced its position in shares of Hess Midstream LP (NYSE:HESM) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,000 shares of the company’s stock after selling 1,000 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Hess Midstream were worth $333,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Yaupon Capital Management LP acquired a new stake in shares of Hess Midstream during the third quarter worth $44,088,000. Westwood Holdings Group Inc. boosted its holdings in Hess Midstream by 126.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock valued at $70,567,000 after purchasing an additional 1,082,840 shares during the period. Epoch Investment Partners Inc. grew its position in Hess Midstream by 23.5% during the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock worth $107,619,000 after buying an additional 562,688 shares in the last quarter. Soros Fund Management LLC acquired a new position in shares of Hess Midstream in the third quarter valued at $14,108,000. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after acquiring an additional 194,154 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Price Performance

HESM stock traded down $0.11 during trading on Tuesday, hitting $37.83. The company had a trading volume of 452,168 shares, compared to its average volume of 437,699. The company has a market cap of $8.25 billion, a P/E ratio of 16.03 and a beta of 1.52. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a fifty day moving average price of $36.25 and a two-hundred day moving average price of $36.40. Hess Midstream LP has a fifty-two week low of $30.72 and a fifty-two week high of $39.11.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $376.98 million. During the same period last year, the firm posted $0.57 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s dividend payout ratio is 115.68%.

Insider Buying and Selling

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.