Y Intercept Hong Kong Ltd Purchases 18,615 Shares of Hess Midstream LP (NYSE:HESM)

Y Intercept Hong Kong Ltd boosted its position in Hess Midstream LP (NYSE:HESM) by 115.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,791 shares of the company’s stock after acquiring an additional 18,615 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Hess Midstream were worth $1,288,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tompkins Financial Corp bought a new position in Hess Midstream in the third quarter worth about $71,000. KBC Group NV increased its holdings in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Hess Midstream during the third quarter valued at about $100,000. Icon Wealth Advisors LLC increased its holdings in shares of Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Hess Midstream by 487.4% during the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after acquiring an additional 2,793 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. 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. Wells Fargo & Company upped their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $40.53 on Thursday. The business’s 50 day moving average price is $39.43 and its 200 day moving average price is $37.22. The firm has a market cap of $8.84 billion, a P/E ratio of 16.28 and a beta of 1.53. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $42.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data 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 return on equity of 54.59% and a net margin of 14.92%. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 6.92%. The ex-dividend date was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is currently 112.45%.

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.