NBC Securities Inc. Grows Stake in Hess Midstream LP (NYSE:HESM)

NBC Securities Inc. boosted its stake in Hess Midstream LP (NYSE:HESM) by 24,034.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,134 shares of the company’s stock after buying an additional 24,034 shares during the quarter. NBC Securities Inc.’s holdings in Hess Midstream were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its position in shares of Hess Midstream by 17.1% in the first quarter. Miller Howard Investments Inc. NY now owns 685,333 shares of the company’s stock valued at $24,761,000 after acquiring an additional 99,871 shares in the last quarter. F&V Capital Management LLC grew its holdings in shares of Hess Midstream by 16.7% during the first quarter. F&V Capital Management LLC now owns 10,500 shares of the company’s stock worth $379,000 after buying an additional 1,500 shares in the last quarter. CFM Wealth Partners LLC raised its position in shares of Hess Midstream by 34.7% in the first quarter. CFM Wealth Partners LLC now owns 35,262 shares of the company’s stock valued at $1,274,000 after buying an additional 9,093 shares during the last quarter. Stokes Capital Advisors LLC boosted its position in Hess Midstream by 4.4% during the first quarter. Stokes Capital Advisors LLC now owns 138,341 shares of the company’s stock worth $4,998,000 after acquiring an additional 5,871 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in Hess Midstream by 220.0% during the 1st quarter. Artemis Investment Management LLP now owns 585,961 shares of the company’s stock valued at $21,160,000 after acquiring an additional 402,875 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Stock Up 0.4 %

HESM stock opened at $36.00 on Thursday. The firm has a market cap of $8.05 billion, a PE ratio of 16.29 and a beta of 1.51. Hess Midstream LP has a one year low of $29.20 and a one year high of $39.11. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50 day moving average price is $36.13 and its 200-day moving average price is $36.00.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 EPS. On average, equities research analysts anticipate that Hess Midstream LP will post 2.36 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.42%. Hess Midstream’s dividend payout ratio (DPR) is currently 120.81%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HESM shares. UBS Group boosted their target price on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price target on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st.

Insider Transactions at Hess Midstream

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.