Hess Midstream LP (NYSE:HESM) Shares Bought by KBC Group NV

KBC Group NV raised its position in Hess Midstream LP (NYSE:HESM) by 80.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,046 shares of the company’s stock after purchasing an additional 2,243 shares during the period. KBC Group NV’s holdings in Hess Midstream were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Tompkins Financial Corp purchased a new stake in Hess Midstream in the 3rd quarter valued at $71,000. Millburn Ridgefield Corp purchased a new position in Hess Midstream during the 3rd quarter worth $100,000. Icon Wealth Advisors LLC increased its stake in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after buying an additional 2,793 shares during the last quarter. Finally, Seelaus Asset Management LLC boosted its stake in shares of Hess Midstream by 5.5% during the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after buying an additional 300 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HESM shares. Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hess Midstream Trading Up 1.9 %

NYSE HESM opened at $41.75 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market capitalization of $9.10 billion, a P/E ratio of 16.77 and a beta of 1.53. Hess Midstream LP has a 52-week low of $32.15 and a 52-week high of $42.15. The firm has a 50-day moving average price of $38.34 and a 200 day moving average price of $36.86.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be issued a $0.7012 dividend. The ex-dividend date is Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.72%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is 110.04%.

Hess Midstream 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.