Hess Midstream LP (NYSE:HESM) Shares Purchased by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. boosted its position in shares of Hess Midstream LP (NYSE:HESM) by 21.8% during the second quarter, Holdings Channel.com reports. The firm owned 9,420 shares of the company’s stock after buying an additional 1,684 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Hess Midstream were worth $343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hess Midstream during the 1st quarter worth about $30,000. Clear Point Advisors Inc. purchased a new stake in shares of Hess Midstream in the 1st quarter valued at approximately $49,000. Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares during the last quarter. Comerica Bank boosted its position in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the period. Finally, South Street Advisors LLC acquired a new stake in Hess Midstream in the 2nd quarter valued at approximately $211,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Stock Down 0.8 %

HESM stock opened at $35.60 on Wednesday. Hess Midstream LP has a fifty-two week low of $27.57 and a fifty-two week high of $39.11. The company’s 50 day moving average price is $36.62 and its 200 day moving average price is $35.98. 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 has a market capitalization of $7.86 billion, a price-to-earnings ratio of 16.11 and a beta of 1.52.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.6677 per share. This represents a $2.67 dividend on an annualized basis and a yield of 7.50%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, August 8th. Hess Midstream’s payout ratio is 120.81%.

Insider Transactions at Hess Midstream

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HESM shares. UBS Group lifted their price objective on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

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.