Scientech Research LLC Invests $365,000 in Hess Midstream LP (NYSE:HESM)

Scientech Research LLC bought a new stake in shares of Hess Midstream LP (NYSE:HESM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,006 shares of the company’s stock, valued at approximately $365,000.

A number of other hedge funds have also recently bought and sold shares of HESM. Allspring Global Investments Holdings LLC bought a new stake in shares of Hess Midstream during the first quarter valued at approximately $30,000. Clear Point Advisors Inc. bought a new stake in Hess Midstream in the 1st quarter valued at $49,000. Geneos Wealth Management Inc. raised its stake in shares of Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after buying an additional 500 shares in the last quarter. Comerica Bank lifted its holdings in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after acquiring an additional 385 shares during the period. Finally, South Street Advisors LLC acquired a new stake in shares of Hess Midstream during the 2nd quarter valued at about $211,000. 92.41% of the stock is owned by institutional investors.

Hess Midstream Stock Performance

NYSE HESM opened at $35.19 on Monday. Hess Midstream LP has a 1-year low of $27.57 and a 1-year high of $39.11. The company has a 50 day moving average of $36.43 and a 200-day moving average of $35.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 15.92 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. On average, equities analysts forecast that Hess Midstream LP will post 2.36 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were given a dividend of $0.6677 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.59%. Hess Midstream’s dividend payout ratio is 120.81%.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

A number of research analysts have commented on HESM shares. UBS Group raised their price target on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. raised their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Hess Midstream 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.