Chickasaw Capital Management LLC Has $333,000 Position in Hess Midstream LP (NYSE:HESM)

Chickasaw Capital Management LLC cut its holdings in Hess Midstream LP (NYSE:HESM) by 10.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,000 shares of the company’s stock after selling 1,000 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Hess Midstream were worth $333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HESM. Epoch Investment Partners Inc. lifted its stake in Hess Midstream by 23.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock valued at $107,619,000 after acquiring an additional 562,688 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after purchasing an additional 1,082,840 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Hess Midstream by 3.8% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company’s stock valued at $46,691,000 after buying an additional 49,003 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new stake in Hess Midstream during the third quarter worth $44,088,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hess Midstream Stock Performance

Shares of HESM stock traded down $0.11 on Tuesday, reaching $37.83. The stock had a trading volume of 452,168 shares, compared to its average volume of 437,699. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12 month low of $30.72 and a 12 month high of $39.11. The firm’s 50-day moving average is $36.25 and its two-hundred day moving average is $36.40. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 16.03 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate 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 47.87%. Hess Midstream’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, research analysts expect that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 7.24%. Hess Midstream’s payout ratio is currently 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.