Seven Eight Capital LP Purchases 22,641 Shares of Hess Midstream LP (NYSE:HESM)

Seven Eight Capital LP raised its holdings in shares of Hess Midstream LP (NYSE:HESM) by 265.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 31,157 shares of the company’s stock after acquiring an additional 22,641 shares during the period. Seven Eight Capital LP’s holdings in Hess Midstream were worth $1,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HESM. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Hess Midstream by 12.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock worth $270,686,000 after purchasing an additional 822,311 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hess Midstream by 2.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,431,870 shares of the company’s stock worth $108,550,000 after buying an additional 72,548 shares during the last quarter. TD Asset Management Inc raised its position in shares of Hess Midstream by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock valued at $125,046,000 after buying an additional 322,479 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Hess Midstream by 33.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,390,636 shares of the company’s stock worth $86,374,000 after acquiring an additional 597,750 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in Hess Midstream by 55.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company’s stock worth $47,170,000 after acquiring an additional 467,601 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

Hess Midstream Stock Down 0.3 %

Shares of NYSE:HESM opened at $35.57 on Friday. The stock has a market capitalization of $7.95 billion, a P/E ratio of 16.10 and a beta of 1.52. The stock’s 50-day moving average price is $36.78 and its 200-day moving average price is $35.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 12-month low of $27.57 and a 12-month high of $39.11.

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

Hess Midstream Increases Dividend

The company 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 was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.51%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio is presently 120.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group raised their price target on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Insiders Place Their Bets

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.