Castellan Group Cuts Stake in Hess Midstream LP (NYSE:HESM)

Castellan Group trimmed its position in shares of Hess Midstream LP (NYSE:HESM) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 98,110 shares of the company’s stock after selling 8,589 shares during the period. Hess Midstream makes up about 1.6% of Castellan Group’s holdings, making the stock its 23rd biggest holding. Castellan Group’s holdings in Hess Midstream were worth $3,633,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Tompkins Financial Corp bought a new position in Hess Midstream during the 3rd quarter valued at about $71,000. KBC Group NV lifted its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Hess Midstream in the 3rd quarter worth approximately $100,000. Icon Wealth Advisors LLC lifted its stake 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 worth $116,000 after purchasing an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake 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 purchasing an additional 2,793 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Trading Down 1.4 %

Hess Midstream stock opened at $38.83 on Thursday. The firm has a 50 day moving average of $38.60 and a 200 day moving average of $36.94. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 15.59 and a beta of 1.53. Hess Midstream LP has a 12-month low of $32.36 and a 12-month high of $42.15. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (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%. As a group, research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.7012 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

Analyst Ratings Changes

HESM has been the topic of several recent research reports. Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. 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 report on Tuesday, February 4th.

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.