Corps Capital Advisors LLC Takes $555,000 Position in Hess Midstream LP (NYSE:HESM)

Corps Capital Advisors LLC acquired a new stake in Hess Midstream LP (NYSE:HESM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,000 shares of the company’s stock, valued at approximately $555,000.

A number of other large investors also recently modified their holdings of HESM. Yaupon Capital Management LP bought a new position in shares of Hess Midstream in the third quarter valued at approximately $44,088,000. Soros Fund Management LLC purchased a new stake in Hess Midstream in the third quarter valued at approximately $14,108,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Hess Midstream in the fourth quarter valued at approximately $8,786,000. Kayne Anderson Capital Advisors LP raised its stake in Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Hess Midstream by 34.7% in the fourth quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock valued at $21,755,000 after purchasing an additional 151,220 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Trading Up 0.5 %

HESM stock opened at $41.19 on Thursday. The company has a market capitalization of $8.98 billion, a PE ratio of 16.54 and a beta of 1.53. Hess Midstream LP has a one year low of $32.75 and a one year high of $42.15. The company’s 50 day moving average price is $38.98 and its two-hundred day moving average price is $37.05. 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 (NYSE:HESM) last posted 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%. As a group, analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.81%. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

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