Kesler Norman & Wride LLC Takes Position in Hess Midstream LP (NYSE:HESM)

Kesler Norman & Wride LLC acquired a new stake in shares of Hess Midstream LP (NYSE:HESM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,494 shares of the company’s stock, valued at approximately $511,000.

Several other hedge funds have also recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in Hess Midstream by 521.7% during the fourth quarter. GSA Capital Partners LLP now owns 99,834 shares of the company’s stock valued at $3,158,000 after buying an additional 83,777 shares during the last quarter. Swiss National Bank increased its holdings in Hess Midstream by 14.8% during the first quarter. Swiss National Bank now owns 154,600 shares of the company’s stock valued at $5,586,000 after buying an additional 19,900 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Hess Midstream during the first quarter valued at approximately $4,709,000. SG Americas Securities LLC purchased a new stake in Hess Midstream during the second quarter valued at approximately $6,410,000. Finally, Artemis Investment Management LLP increased its holdings in Hess Midstream by 220.0% during the first quarter. Artemis Investment Management LLP now owns 585,961 shares of the company’s stock valued at $21,160,000 after buying an additional 402,875 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hess Midstream

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

Hess Midstream Stock Performance

Shares of NYSE HESM opened at $35.84 on Wednesday. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day moving average price of $36.17 and a 200-day moving average price of $35.99. Hess Midstream LP has a 1 year low of $28.79 and a 1 year high of $39.11. The stock has a market cap of $8.01 billion, a PE ratio of 16.22 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last issued its earnings results 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 firm had revenue of $365.50 million during the quarter, compared to analyst estimates of $365.16 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. Hess Midstream’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts anticipate that Hess Midstream LP will post 2.36 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were given a dividend of $0.6677 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.45%. Hess Midstream’s dividend payout ratio is currently 120.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HESM. JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group increased their price objective on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd.

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.