Quantbot Technologies LP Boosts Holdings in Hess Midstream LP (NYSE:HESM)

Quantbot Technologies LP boosted its position in shares of Hess Midstream LP (NYSE:HESM) by 57.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,247 shares of the company’s stock after acquiring an additional 43,750 shares during the period. Quantbot Technologies LP owned 0.05% of Hess Midstream worth $4,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP lifted its position in Hess Midstream by 521.7% during the fourth quarter. GSA Capital Partners LLP now owns 99,834 shares of the company’s stock valued at $3,158,000 after acquiring an additional 83,777 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Hess Midstream during the fourth quarter valued at approximately $711,000. Swiss National Bank lifted its position in Hess Midstream by 14.8% during the first quarter. Swiss National Bank now owns 154,600 shares of the company’s stock valued at $5,586,000 after acquiring an additional 19,900 shares during the last quarter. Wells Fargo & Company MN lifted its position in Hess Midstream by 30.7% during the fourth quarter. Wells Fargo & Company MN now owns 434,434 shares of the company’s stock valued at $13,741,000 after acquiring an additional 102,010 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Hess Midstream in the first quarter worth $4,709,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Hess Midstream Stock Up 1.3 %

NYSE:HESM opened at $37.18 on Tuesday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 16.82 and a beta of 1.52. Hess Midstream LP has a 1-year low of $27.57 and a 1-year high of $39.11. The company’s fifty day moving average price is $36.84 and its 200-day moving average price is $35.93. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.11 and a quick ratio of 1.11.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data 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 firm had revenue of $365.50 million for 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 41.91%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, equities research analysts anticipate that Hess Midstream LP will post 2.36 EPS for the current year.

Hess Midstream Increases Dividend

The company 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 represents a $2.67 annualized dividend and a yield of 7.18%. The ex-dividend date was Thursday, August 8th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio (DPR) is currently 120.81%.

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.