Hess Midstream LP (NYSE:HESM) Stock Position Lifted by Stephens Inc. AR

Stephens Inc. AR boosted its stake in shares of Hess Midstream LP (NYSE:HESM) by 11.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,169 shares of the company’s stock after purchasing an additional 10,888 shares during the period. Stephens Inc. AR’s holdings in Hess Midstream were worth $3,820,000 at the end of the most recent reporting period.

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

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $40.98 on Tuesday. The firm has a fifty day simple moving average of $38.53 and a 200-day simple moving average of $36.91. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 1-year low of $32.19 and a 1-year high of $42.15. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 16.46 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.84%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream’s payout ratio is presently 112.45%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James boosted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th.

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.