Caprock Group LLC Purchases New Stake in Hess Midstream LP (NYSE:HESM)

Caprock Group LLC acquired a new position in shares of Hess Midstream LP (NYSE:HESM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,753 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HESM. apricus wealth LLC raised its holdings in shares of Hess Midstream by 1.4% during the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock worth $685,000 after acquiring an additional 250 shares during the period. Teamwork Financial Advisors LLC raised its stake in Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock worth $483,000 after purchasing an additional 286 shares during the period. Seelaus Asset Management LLC boosted its holdings in Hess Midstream by 5.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock valued at $205,000 after purchasing an additional 300 shares during the last quarter. Icon Wealth Advisors LLC boosted 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 valued at $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Hess Midstream by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company’s stock valued at $469,000 after buying an additional 561 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

HESM has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday. Raymond James lifted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th.

Hess Midstream Stock Performance

Shares of HESM stock opened at $41.75 on Thursday. 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 firm has a market cap of $9.10 billion, a P/E ratio of 16.77 and a beta of 1.53. The firm’s 50 day moving average price is $38.34 and its 200-day moving average price is $36.86. Hess Midstream LP has a one year low of $32.15 and a one year high of $42.15.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be given a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.72%. The ex-dividend date is Thursday, February 6th. Hess Midstream’s payout ratio is currently 110.04%.

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.