SG Americas Securities LLC Makes New Investment in Hess Midstream LP (NYSE:HESM)

SG Americas Securities LLC purchased a new stake in shares of Hess Midstream LP (NYSE:HESMGet Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,700 shares of the company’s stock, valued at approximately $741,000. SG Americas Securities LLC owned about 0.07% of Hess Midstream at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. American Financial Group Inc. boosted its position in shares of Hess Midstream by 5.3% during the 4th quarter. American Financial Group Inc. now owns 20,000 shares of the company’s stock valued at $553,000 after acquiring an additional 1,000 shares during the last quarter. First Quadrant LLC CA bought a new stake in shares of Hess Midstream during the 1st quarter valued at about $35,000. Pacer Advisors Inc. boosted its position in shares of Hess Midstream by 6.0% during the 1st quarter. Pacer Advisors Inc. now owns 20,796 shares of the company’s stock valued at $624,000 after acquiring an additional 1,186 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Hess Midstream by 6.7% during the 1st quarter. Kestra Advisory Services LLC now owns 30,638 shares of the company’s stock valued at $919,000 after acquiring an additional 1,937 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Hess Midstream by 2.2% during the 4th quarter. Catalyst Capital Advisors LLC now owns 92,733 shares of the company’s stock valued at $2,562,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 77.57% of the company’s stock.

Hess Midstream Price Performance

NYSE:HESM opened at $30.00 on Tuesday. The business has a 50 day moving average of $30.05 and a 200 day moving average of $30.37. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 15.96 and a beta of 1.67. Hess Midstream LP has a 1-year low of $23.35 and a 1-year high of $35.71.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Thursday, August 4th will be given a $0.556 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $2.22 dividend on an annualized basis and a yield of 7.41%. Hess Midstream’s payout ratio is presently 117.02%.

Analyst Ratings Changes

Separately, Morgan Stanley dropped their price target on Hess Midstream from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.80.

Insider Buying and Selling

In related news, Director Geurt G. Schoonman purchased 3,249 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were acquired at an average cost of $30.77 per share, with a total value of $99,971.73. Following the purchase, the director now directly owns 3,249 shares of the company’s stock, valued at $99,971.73. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hess Midstream Company Profile

(Get Rating)

Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities.

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Institutional Ownership by Quarter for Hess Midstream (NYSE:HESM)

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