Susquehanna Fundamental Investments LLC Makes New $4.71 Million Investment in Hess Midstream LP (NYSE:HESM)

Susquehanna Fundamental Investments LLC bought a new stake in Hess Midstream LP (NYSE:HESM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 130,336 shares of the company’s stock, valued at approximately $4,709,000. Susquehanna Fundamental Investments LLC owned about 0.06% of Hess Midstream as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Peapack Gladstone Financial Corp grew its holdings in Hess Midstream by 5.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock valued at $283,000 after buying an additional 484 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Hess Midstream by 31.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream during the first quarter worth about $30,000. WBI Investments LLC raised its stake in Hess Midstream by 3.3% during the fourth quarter. WBI Investments LLC now owns 29,694 shares of the company’s stock worth $939,000 after purchasing an additional 938 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Hess Midstream by 183.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after buying an additional 1,159 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $34.02, for a total transaction of $51,030,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hess Midstream Trading Up 0.6 %

Shares of NYSE HESM traded up $0.22 during trading on Monday, reaching $38.32. The stock had a trading volume of 159,118 shares, compared to its average volume of 922,906. The company has a debt-to-equity ratio of 8.67, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $8.57 billion, a P/E ratio of 17.25 and a beta of 1.52. Hess Midstream LP has a fifty-two week low of $27.57 and a fifty-two week high of $38.41. The business’s 50-day moving average price is $35.74 and its 200-day moving average price is $34.68.

Hess Midstream (NYSE:HESM) last released its earnings results on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $355.60 million during the quarter, compared to the consensus estimate of $354.98 million. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. On average, equities research analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Thursday, May 2nd were paid a dividend of $0.6516 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Wednesday, May 1st. Hess Midstream’s dividend payout ratio is presently 118.10%.

Analysts Set New Price Targets

HESM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company upped their price target on Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Finally, UBS Group upped their target price on shares of Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.83.

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.