A. D. Beadell Investment Counsel Inc. Increases Holdings in Hess Midstream LP (NYSE:HESM)

A. D. Beadell Investment Counsel Inc. grew its position in shares of Hess Midstream LP (NYSE:HESM) by 23.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,460 shares of the company’s stock after acquiring an additional 5,650 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Hess Midstream were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tompkins Financial Corp bought a new position in Hess Midstream in the third quarter worth approximately $71,000. KBC Group NV increased its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Hess Midstream in the 3rd quarter worth $100,000. Icon Wealth Advisors LLC raised its holdings in Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Hess Midstream by 487.4% during the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Performance

NYSE:HESM traded down $0.76 during mid-day trading on Friday, hitting $37.67. 144,068 shares of the company traded hands, compared to its average volume of 473,329. The stock’s fifty day moving average price is $36.46 and its 200-day moving average price is $36.44. 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 one year low of $31.24 and a one year high of $39.11. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 15.96 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Hess Midstream LP will post 2.41 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. Stockholders of record on Thursday, November 7th were paid a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.27%. Hess Midstream’s dividend payout ratio is 115.68%.

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.