XTX Topco Ltd Buys 9,281 Shares of Hess Midstream LP (NYSE:HESM)

XTX Topco Ltd raised its stake in shares of Hess Midstream LP (NYSE:HESM) by 101.2% in the 2nd quarter, Holdings Channel reports. The firm owned 18,451 shares of the company’s stock after acquiring an additional 9,281 shares during the period. XTX Topco Ltd’s holdings in Hess Midstream were worth $672,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Naples Global Advisors LLC boosted its stake in Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock valued at $2,267,000 after buying an additional 300 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Hess Midstream by 5.2% during the 1st quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock valued at $244,000 after acquiring an additional 332 shares during the last quarter. Granite Group Advisors LLC boosted its position in shares of Hess Midstream by 5.6% during the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after acquiring an additional 375 shares during the last quarter. Comerica Bank grew its holdings in shares of Hess Midstream by 7.4% in the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after purchasing an additional 385 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in Hess Midstream by 5.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Down 0.3 %

Shares of HESM opened at $35.57 on Monday. The company’s fifty day simple moving average is $36.73 and its 200-day simple moving average is $35.97. The company has a market cap of $7.95 billion, a P/E ratio of 16.10 and a beta of 1.52. 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 twelve month low of $27.57 and a twelve month high of $39.11.

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

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a dividend of $0.6677 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.67 dividend on an annualized basis and a yield of 7.51%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is presently 120.81%.

Analyst Ratings Changes

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

Insider Buying and Selling at Hess Midstream

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

About Hess Midstream

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.