Hess Midstream LP (NYSE:HESM) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of Hess Midstream LP (NYSE:HESM – Get Rating) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,373 shares of the company’s stock after purchasing an additional 2,268 shares during the period. LPL Financial LLC owned 0.14% of Hess Midstream worth $1,866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Advisor Group Holdings Inc. grew its position in shares of Hess Midstream by 43.0% during the first 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. bought a new position in Hess Midstream in the 1st quarter valued at about $244,000. Cetera Advisor Networks LLC bought a new position in Hess Midstream in the 1st quarter valued at about $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Hess Midstream in the 1st quarter valued at about $1,556,000. Finally, BlackRock Inc. grew its position in Hess Midstream by 220.0% in the 1st 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. 87.59% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $27.71 on Wednesday. Hess Midstream LP has a twelve month low of $24.33 and a twelve month high of $34.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 6.81. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.92 and a beta of 1.60. The firm has a 50-day moving average of $28.40 and a two-hundred day moving average of $29.11.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Thursday, May 4th were issued a $0.5851 dividend. This represents a $2.34 dividend on an annualized basis and a yield of 8.45%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, May 3rd. Hess Midstream’s dividend payout ratio is presently 117.59%.

Analyst Ratings Changes

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

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Corp Hess sold 6,382,500 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $26.12, for a total value of $166,710,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hess Midstream news, COO John A. Gatling sold 1,512 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $28.26, for a total transaction of $42,729.12. Following the completion of the sale, the chief operating officer now directly owns 45,090 shares of the company’s stock, valued at $1,274,243.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Corp Hess sold 6,382,500 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $26.12, for a total transaction of $166,710,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,393,286 shares of company stock valued at $167,009,522.

Hess Midstream Company 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.