Hess Midstream LP (NYSE:HESM) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in shares of Hess Midstream LP (NYSE:HESMGet Rating) by 83.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,978 shares of the company’s stock after selling 109,273 shares during the period. Mackenzie Financial Corp’s holdings in Hess Midstream were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HESM. AGF Investments LLC acquired a new stake in shares of Hess Midstream during the 1st quarter worth about $39,000. Great West Life Assurance Co. Can increased its position in Hess Midstream by 83.9% during the first quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after buying an additional 804 shares during the period. Geneos Wealth Management Inc. increased its position in Hess Midstream by 400.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,000 shares of the company’s stock worth $90,000 after buying an additional 2,400 shares during the period. Advisor Group Holdings Inc. increased its position in Hess Midstream by 43.0% during the first quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after buying an additional 2,423 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Hess Midstream during the first quarter worth approximately $244,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Hess Midstream Stock Up 0.8 %

HESM opened at $29.90 on Friday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 14.73 and a beta of 1.64. Hess Midstream LP has a 52 week low of $23.81 and a 52 week high of $35.71. The business’s 50 day moving average is $27.57 and its two-hundred day moving average is $28.96.

Hess Midstream (NYSE:HESMGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $334.80 million for the quarter, compared to analyst estimates of $285.34 million. Equities analysts expect that Hess Midstream LP will post 1.98 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Thursday, November 3rd were issued a $0.5627 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $2.25 dividend on an annualized basis and a dividend yield of 7.53%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.56. Hess Midstream’s payout ratio is presently 110.84%.

About Hess Midstream

(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.

Further Reading

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

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