Hardy Reed LLC Raises Stake in Hess Midstream LP (NYSE:HESM)

Hardy Reed LLC lifted its stake in shares of Hess Midstream LP (NYSE:HESM) by 5.3% during the 4th quarter, Holdings Channel reports. The fund owned 8,990 shares of the company’s stock after buying an additional 450 shares during the quarter. Hardy Reed LLC’s holdings in Hess Midstream were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Hess Midstream by 98.0% during the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after purchasing an additional 134,171 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Hess Midstream by 51.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock valued at $13,370,000 after buying an additional 128,009 shares during the period. Stifel Financial Corp increased its holdings in shares of Hess Midstream by 37.7% during the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock worth $405,000 after buying an additional 3,148 shares during the last quarter. Raymond James & Associates raised its position in shares of Hess Midstream by 230.7% during the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after buying an additional 83,358 shares during the period. Finally, Artemis Investment Management LLP lifted its holdings in Hess Midstream by 11.9% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analyst Ratings Changes

HESM has been the subject of several recent analyst reports. Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup raised their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped 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 report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Trading Up 0.5 %

Shares of NYSE HESM opened at $41.19 on Thursday. 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 stock 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 twelve month low of $32.75 and a twelve month high of $42.15. The stock has a fifty day simple moving average of $38.98 and a 200-day simple moving average of $37.05.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, equities analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. 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 6.81%. Hess Midstream’s dividend payout ratio 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.