Maryland State Retirement & Pension System Increases Stock Position in Hess Midstream LP (NYSE:HESM)

Maryland State Retirement & Pension System boosted its position in Hess Midstream LP (NYSE:HESM) by 3.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 57,480 shares of the company’s stock after buying an additional 2,003 shares during the period. Maryland State Retirement & Pension System’s holdings in Hess Midstream were worth $1,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in Hess Midstream by 183.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after buying an additional 1,159 shares during the period. Van ECK Associates Corp lifted its stake in Hess Midstream by 22.1% in the fourth quarter. Van ECK Associates Corp now owns 18,751 shares of the company’s stock valued at $593,000 after acquiring an additional 3,399 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Hess Midstream by 25.0% during the fourth quarter. Russell Investments Group Ltd. now owns 41,387 shares of the company’s stock valued at $1,309,000 after buying an additional 8,273 shares in the last quarter. Fractal Investments LLC grew its holdings in Hess Midstream by 375.8% during the fourth quarter. Fractal Investments LLC now owns 235,247 shares of the company’s stock valued at $7,441,000 after purchasing an additional 185,800 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Hess Midstream by 348.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hess Midstream Price Performance

Shares of NYSE HESM traded down $0.17 during trading hours on Wednesday, reaching $34.59. 44,720 shares of the stock traded hands, compared to its average volume of 897,431. The company has a market capitalization of $7.83 billion, a P/E ratio of 15.73 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81. Hess Midstream LP has a 52-week low of $26.86 and a 52-week high of $36.84. The company’s 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $33.05.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Thursday, May 2nd will be given a dividend of $0.6516 per share. This represents a $2.61 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date of this dividend is Wednesday, May 1st. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio (DPR) is 118.10%.

Analyst Ratings Changes

HESM has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group increased their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company raised their price objective on shares of Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

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.