109,000 Shares in Hess Midstream LP (NYSE:HESM) Purchased by ING Groep NV

ING Groep NV purchased a new position in shares of Hess Midstream LP (NYSE:HESM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 109,000 shares of the company’s stock, valued at approximately $4,036,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tompkins Financial Corp bought a new stake in Hess Midstream during the third quarter worth about $71,000. KBC Group NV lifted its stake in Hess Midstream by 83.9% during the third 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 last quarter. Millburn Ridgefield Corp bought a new stake in Hess Midstream during the third quarter worth about $100,000. Icon Wealth Advisors LLC lifted its stake in Hess Midstream by 11.1% during the third 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 last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Hess Midstream by 487.4% during the third 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 last quarter. Institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Raymond James boosted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through the SEC website.

Hess Midstream Stock Down 1.5 %

Shares of NYSE:HESM opened at $40.66 on Friday. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $42.15. The stock’s 50-day moving average is $39.17 and its 200 day moving average is $37.12. 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 company has a market cap of $8.86 billion, a PE ratio of 16.33 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.90%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is presently 112.45%.

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.