Pacer Advisors Inc. Has $1.88 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Pacer Advisors Inc. grew its position in shares of Hess Midstream LP (NYSE:HESM) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,654 shares of the company’s stock after acquiring an additional 10,492 shares during the quarter. Pacer Advisors Inc.’s holdings in Hess Midstream were worth $1,876,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HESM. Tompkins Financial Corp acquired a new position in Hess Midstream during the 3rd quarter worth approximately $71,000. KBC Group NV boosted its position in Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Hess Midstream during the 3rd quarter worth approximately $100,000. Icon Wealth Advisors LLC boosted its position in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after acquiring an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Trading Down 3.2 %

NYSE HESM opened at $40.57 on Friday. The company has a market cap of $8.84 billion, a PE ratio of 16.29 and a beta of 1.52. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12 month low of $32.15 and a 12 month high of $42.15. The stock has a 50 day moving average of $38.09 and a 200-day moving average of $36.80.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, equities research analysts anticipate that Hess Midstream LP will post 2.67 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is 110.04%.

Wall Street Analysts Forecast Growth

Separately, Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.