US Bancorp DE Boosts Stock Holdings in Hess Midstream LP (NYSE:HESM)

US Bancorp DE grew its holdings in Hess Midstream LP (NYSE:HESM) by 34.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,010 shares of the company’s stock after buying an additional 510 shares during the quarter. US Bancorp DE’s holdings in Hess Midstream were worth $74,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV raised its stake in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in Hess Midstream in the third quarter valued at about $100,000. IFP Advisors Inc raised its holdings in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after purchasing an additional 733 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after buying an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after buying an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HESM. Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Raymond James upped their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hess Midstream has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Performance

Shares of HESM stock opened at $43.19 on Tuesday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average of $40.47 and a 200 day moving average of $37.64. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 17.35 and a beta of 1.48. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $43.42.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a yield of 6.49%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

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.