24,700 Shares in Hess Midstream LP (NYSE:HESM) Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new position in Hess Midstream LP (NYSE:HESMGet Rating) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 24,700 shares of the company’s stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Quadrant LLC CA bought a new stake in Hess Midstream in the first quarter worth $35,000. National Bank of Canada FI bought a new stake in Hess Midstream in the fourth quarter worth $69,000. Baldwin Brothers LLC MA bought a new stake in Hess Midstream in the first quarter worth $120,000. HighTower Advisors LLC bought a new stake in Hess Midstream in the fourth quarter worth $207,000. Finally, Vista Finance LLC bought a new stake in Hess Midstream in the first quarter worth $217,000. 77.57% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $30.00 on Tuesday. The company has a market cap of $1.32 billion, a P/E ratio of 15.96 and a beta of 1.67. Hess Midstream LP has a 1 year low of $23.35 and a 1 year high of $35.71. The stock’s fifty day moving average price is $30.05 and its 200-day moving average price is $30.37.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Thursday, August 4th will be given a dividend of $0.556 per share. This represents a $2.22 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date is Wednesday, August 3rd. This is a boost from Hess Midstream’s previous quarterly dividend of $0.55. Hess Midstream’s dividend payout ratio is 117.02%.

Analysts Set New Price Targets

Separately, Morgan Stanley dropped their target price on Hess Midstream from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.80.

Insider Activity at Hess Midstream

In other news, Director Geurt G. Schoonman acquired 3,249 shares of Hess Midstream stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average price of $30.77 per share, for a total transaction of $99,971.73. Following the completion of the transaction, the director now owns 3,249 shares in the company, valued at $99,971.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Hess Midstream

(Get Rating)

Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities.

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Institutional Ownership by Quarter for Hess Midstream (NYSE:HESM)

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