Hess Midstream LP (NYSE:HESM) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Hess Midstream LP (NYSE:HESM – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,693 shares of the company’s stock after acquiring an additional 4,139 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.37% of Hess Midstream worth $4,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in shares of Hess Midstream by 43.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after acquiring an additional 2,423 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Hess Midstream in the first quarter valued at approximately $244,000. Cetera Advisor Networks LLC acquired a new position in Hess Midstream during the first quarter worth $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Hess Midstream during the first quarter worth $1,556,000. Finally, BlackRock Inc. grew its stake in shares of Hess Midstream by 220.0% in the first quarter. BlackRock Inc. now owns 391,128 shares of the company’s stock valued at $11,733,000 after buying an additional 268,914 shares in the last quarter. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Hess Midstream Price Performance

HESM stock opened at $27.81 on Friday. The business’s 50-day moving average is $28.38 and its two-hundred day moving average is $29.11. The firm has a market capitalization of $1.23 billion, a P/E ratio of 13.97 and a beta of 1.60. Hess Midstream LP has a 1 year low of $24.33 and a 1 year high of $34.99.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Thursday, May 4th were issued a $0.5851 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.34 annualized dividend and a yield of 8.42%. Hess Midstream’s dividend payout ratio (DPR) is 117.59%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HESM shares. UBS Group began coverage on Hess Midstream in a report on Wednesday, May 10th. They set a “buy” rating and a $37.00 target price for the company. Raymond James assumed coverage on shares of Hess Midstream in a research note on Friday, April 21st. They set an “outperform” rating and a $35.00 target price on the stock.

Insider Buying and Selling

In other news, COO John A. Gatling sold 1,512 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $28.26, for a total value of $42,729.12. Following the sale, the chief operating officer now directly owns 45,090 shares in the company, valued at approximately $1,274,243.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John A. Gatling sold 1,512 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $28.26, for a total transaction of $42,729.12. Following the completion of the transaction, the chief operating officer now directly owns 45,090 shares of the company’s stock, valued at approximately $1,274,243.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John A. Gatling sold 3,062 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $27.38, for a total value of $83,837.56. Following the completion of the transaction, the chief operating officer now owns 49,809 shares in the company, valued at approximately $1,363,770.42. The disclosure for this sale can be found here. Insiders sold 10,786 shares of company stock worth $298,622 over the last 90 days.

Hess Midstream Profile

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Hess Midstream LP engages in the ownership, development, and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage, and Terminaling and Export. The Gathering segment consists of natural gas gathering and compression, crude oil gathering, and produced water gathering and disposal.