Hess Midstream LP (NYSE:HESM) Shares Acquired by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its holdings in Hess Midstream LP (NYSE:HESM) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,175 shares of the company’s stock after buying an additional 600 shares during the quarter. Naples Global Advisors LLC’s holdings in Hess Midstream were worth $2,376,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on HESM. Wells Fargo & Company boosted their price target 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. Raymond James boosted their target price on 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 Stock Down 1.4 %

HESM stock opened at $38.83 on Thursday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $38.60 and its 200-day simple moving average is $36.94. Hess Midstream LP has a 12 month low of $32.36 and a 12 month high of $42.15. The firm has a market capitalization of $8.46 billion, a PE ratio of 15.59 and a beta of 1.53.

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

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 7.22%. Hess Midstream’s payout ratio is presently 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.