Creative Planning Grows Holdings in Hess Midstream LP (NYSE:HESM)

Creative Planning boosted its position in Hess Midstream LP (NYSE:HESM) by 32.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,390 shares of the company’s stock after purchasing an additional 1,815 shares during the quarter. Creative Planning’s holdings in Hess Midstream were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Hess Midstream in the 1st quarter worth about $30,000. Clear Point Advisors Inc. bought a new position in Hess Midstream during the 1st quarter worth about $49,000. Geneos Wealth Management Inc. lifted its stake in shares of Hess Midstream by 31.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the last quarter. Comerica Bank raised its stake in Hess Midstream by 7.4% in 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 last quarter. Finally, South Street Advisors LLC acquired a new stake in shares of Hess Midstream in the second quarter worth $211,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st.

Insider Buying and Selling

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

Hess Midstream Stock Down 0.9 %

HESM stock opened at $35.07 on Friday. The stock has a market capitalization of $7.74 billion, a P/E ratio of 14.86 and a beta of 1.51. Hess Midstream LP has a one year low of $29.35 and a one year high of $39.11. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average price of $35.73 and a two-hundred day moving average price of $35.96.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 49.72%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, sell-side analysts expect that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.6846 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 7.81%. Hess Midstream’s payout ratio is 115.68%.

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.