Hess Midstream LP (NYSE:HESM) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 75.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,729 shares of the company’s stock after purchasing an additional 10,175 shares during the period. Van ECK Associates Corp’s holdings in Hess Midstream were worth $879,000 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. Kayne Anderson Capital Advisors LP lifted its position in shares of Hess Midstream by 7.9% in 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. Yaupon Capital Management LP purchased a new stake in shares of Hess Midstream in the 3rd quarter valued at approximately $44,088,000. Artemis Investment Management LLP lifted its position in shares of Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after acquiring an additional 90,521 shares in the last quarter. Infrastructure Capital Advisors LLC lifted its position in shares of Hess Midstream by 24.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company’s stock valued at $21,683,000 after acquiring an additional 121,342 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Hess Midstream by 34.7% in the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock valued at $21,755,000 after acquiring an additional 151,220 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hess Midstream

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

Hess Midstream Stock Performance

Shares of HESM opened at $40.66 on Friday. The company’s fifty day moving average is $39.17 and its 200-day moving average is $37.11. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $42.15. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 16.33 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping 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%. Equities analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared 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. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.90%. Hess Midstream’s dividend payout ratio is 112.45%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James increased their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.