Canada Pension Plan Investment Board Makes New $3.61 Million Investment in Hess Midstream LP (NYSE:HESM)

Canada Pension Plan Investment Board purchased a new stake in Hess Midstream LP (NYSE:HESM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 97,400 shares of the company’s stock, valued at approximately $3,607,000.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after acquiring an additional 579 shares in the last quarter. US Bancorp DE grew its holdings in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares during the last quarter. IFP Advisors Inc increased its position in shares of Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after purchasing an additional 733 shares in the last quarter. KBC Group NV lifted its holdings in Hess Midstream by 80.0% during the 4th quarter. KBC Group NV now owns 5,046 shares of the company’s stock valued at $187,000 after purchasing an additional 2,243 shares during the last quarter. Finally, Insigneo Advisory Services LLC acquired a new position in Hess Midstream in the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HESM shares. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Stock Up 2.6 %

Shares of HESM opened at $37.39 on Wednesday. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 15.02 and a beta of 1.14. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The business’s fifty day moving average price is $40.01 and its two-hundred day moving average price is $38.27.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.50%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream’s payout ratio is 112.45%.

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.