Venturi Wealth Management LLC Boosts Position in Hess Midstream LP (NYSE:HESM)

Venturi Wealth Management LLC boosted its holdings in Hess Midstream LP (NYSE:HESM) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,506 shares of the company’s stock after buying an additional 1,472 shares during the period. Venturi Wealth Management LLC’s holdings in Hess Midstream were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HESM. Creative Planning raised its holdings in Hess Midstream by 32.6% in the third quarter. Creative Planning now owns 7,390 shares of the company’s stock valued at $261,000 after buying an additional 1,815 shares during the period. Raymond James & Associates raised its stake in shares of Hess Midstream by 230.7% during the third quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after purchasing an additional 83,358 shares during the period. Stephens Inc. AR purchased a new stake in shares of Hess Midstream during the third quarter valued at approximately $3,255,000. Catalyst Capital Advisors LLC raised its stake in shares of Hess Midstream by 15.7% during the third quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company’s stock valued at $6,851,000 after purchasing an additional 26,290 shares during the period. Finally, Avidian Wealth Enterprises LLC purchased a new stake in shares of Hess Midstream during the third quarter valued at approximately $322,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Raymond James lifted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Hess Midstream Stock Up 0.5 %

HESM stock opened at $41.19 on Thursday. The company has a market capitalization of $8.98 billion, a P/E ratio of 16.54 and a beta of 1.53. The firm has a 50 day simple moving average of $38.98 and a 200-day simple moving average of $37.05. 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 twelve month low of $32.75 and a twelve month high of $42.15.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, equities research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.81%. Hess Midstream’s payout ratio is 112.45%.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.