Raymond James & Associates Purchases 31,082 Shares of Hess Midstream LP (NYSE:HESM)

Raymond James & Associates boosted its position in Hess Midstream LP (NYSE:HESM) by 393.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,982 shares of the company’s stock after acquiring an additional 31,082 shares during the period. Raymond James & Associates’ holdings in Hess Midstream were worth $1,233,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HESM. Alps Advisors Inc. boosted its holdings in Hess Midstream by 36.0% in the third quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock valued at $341,660,000 after acquiring an additional 3,107,528 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Hess Midstream by 50.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,966,157 shares of the company’s stock valued at $58,985,000 after acquiring an additional 659,514 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Hess Midstream by 172.4% in the third quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock valued at $28,574,000 after acquiring an additional 620,779 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in Hess Midstream by 6,949.2% during the third quarter. Balyasny Asset Management LLC now owns 526,436 shares of the company’s stock worth $13,435,000 after buying an additional 518,968 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Hess Midstream by 171.9% during the third quarter. TD Asset Management Inc now owns 803,257 shares of the company’s stock worth $23,399,000 after buying an additional 507,856 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Insider Transactions at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of Hess Midstream stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group raised their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.67.

Hess Midstream Trading Up 1.4 %

NYSE HESM opened at $35.33 on Friday. The firm has a market cap of $8.00 billion, a P/E ratio of 16.90 and a beta of 1.50. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50-day moving average is $34.96 and its 200-day moving average is $32.61. Hess Midstream LP has a one year low of $26.86 and a one year high of $36.84.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. Sell-side analysts anticipate that Hess Midstream LP will post 2.54 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.6343 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.18%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio (DPR) is currently 121.05%.

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.