16,380 Shares in Hess Midstream LP (NYSE:HESM) Bought by Quantessence Capital LLC

Quantessence Capital LLC acquired a new stake in shares of Hess Midstream LP (NYSE:HESM) during the fourth quarter, Holdings Channel.com reports. The firm acquired 16,380 shares of the company’s stock, valued at approximately $607,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HESM. Hsbc Holdings PLC purchased a new stake in Hess Midstream in the 4th quarter worth about $525,000. Stifel Financial Corp grew its position in Hess Midstream by 11.8% in the 4th quarter. Stifel Financial Corp now owns 12,848 shares of the company’s stock valued at $476,000 after acquiring an additional 1,358 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Hess Midstream by 5.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 40,306 shares of the company’s stock worth $1,491,000 after purchasing an additional 2,121 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Hess Midstream by 156.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,479 shares of the company’s stock worth $573,000 after purchasing an additional 9,435 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of Hess Midstream by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company’s stock valued at $280,728,000 after purchasing an additional 83,943 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website.

Hess Midstream Stock Down 2.6 %

Shares of NYSE HESM opened at $36.54 on Tuesday. The stock has a market capitalization of $7.97 billion, a PE ratio of 14.67 and a beta of 1.14. 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 LP has a 12-month low of $32.75 and a 12-month high of $44.05. The stock’s fifty day simple moving average is $40.06 and its two-hundred day simple moving average is $38.28.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 7.68%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HESM shares. Raymond James lifted 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. Citigroup boosted their price target on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.