Virtu Financial LLC Invests $442,000 in Hess Midstream LP (NYSE:HESM)

Virtu Financial LLC bought a new position in Hess Midstream LP (NYSE:HESM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,237 shares of the company’s stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Hess Midstream by 2.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,431,870 shares of the company’s stock worth $108,550,000 after purchasing an additional 72,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hess Midstream by 38.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock valued at $100,200,000 after buying an additional 887,859 shares during the period. TD Asset Management Inc boosted its holdings in shares of Hess Midstream by 33.1% in the 1st quarter. TD Asset Management Inc now owns 3,109,076 shares of the company’s stock valued at $112,331,000 after buying an additional 773,119 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Hess Midstream by 33.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,390,636 shares of the company’s stock valued at $86,374,000 after buying an additional 597,750 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of Hess Midstream by 55.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company’s stock valued at $47,170,000 after buying an additional 467,601 shares during the period. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Down 1.1 %

Shares of NYSE:HESM opened at $36.54 on Friday. The company has a 50 day moving average of $36.50 and a 200-day moving average of $35.28. The firm has a market cap of $8.17 billion, a P/E ratio of 16.53 and a beta of 1.52. Hess Midstream LP has a twelve month low of $27.57 and a twelve month high of $39.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 8.67.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $365.50 million during the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a net margin of 11.59% and a return on equity of 42.07%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. As a group, analysts anticipate that Hess Midstream LP will post 2.26 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 8th will be issued a $0.6677 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date of this dividend is Thursday, August 8th. Hess Midstream’s payout ratio is presently 118.10%.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several research analysts have recently commented on HESM shares. UBS Group lifted their price target on shares of Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their target price 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

About Hess Midstream

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.