Quest Partners LLC Raises Stake in Hess Midstream LP (NYSE:HESM)

Quest Partners LLC raised its position in shares of Hess Midstream LP (NYSE:HESM) by 16.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,537 shares of the company’s stock after purchasing an additional 9,028 shares during the quarter. Quest Partners LLC’s holdings in Hess Midstream were worth $2,311,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HESM. Naples Global Advisors LLC lifted its holdings in shares of Hess Midstream by 0.5% in the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after buying an additional 300 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after buying an additional 300 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Hess Midstream by 4.8% in the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock worth $258,000 after buying an additional 323 shares in the last quarter. Granite Group Advisors LLC lifted its holdings in shares of Hess Midstream by 5.6% in the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock worth $257,000 after buying an additional 375 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Hess Midstream by 7.4% in the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after buying an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Up 0.4 %

Shares of HESM opened at $35.34 on Monday. The company’s fifty day moving average is $35.58 and its 200 day moving average is $35.98. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The stock has a market capitalization of $7.80 billion, a PE ratio of 14.97 and a beta of 1.51. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. Hess Midstream’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Hess Midstream LP will post 2.45 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.6846 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 7.75%. Hess Midstream’s payout ratio is 115.68%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Hess Midstream Company 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.