Swiss National Bank grew its position in Hess Midstream LP (NYSE:HESM – Get Rating) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,200 shares of the company’s stock after acquiring an additional 1,900 shares during the period. Swiss National Bank owned about 0.24% of Hess Midstream worth $3,178,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisor Group Holdings Inc. raised its position in shares of Hess Midstream by 43.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after purchasing an additional 2,423 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Hess Midstream during the 1st quarter worth about $244,000. Cetera Advisor Networks LLC acquired a new position in shares of Hess Midstream during the 1st quarter worth about $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Hess Midstream during the 1st quarter worth about $1,556,000. Finally, BlackRock Inc. raised its position in shares of Hess Midstream by 220.0% during the 1st quarter. BlackRock Inc. now owns 391,128 shares of the company’s stock worth $11,733,000 after purchasing an additional 268,914 shares during the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.
Analyst Ratings Changes
HESM has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Hess Midstream in a research report on Wednesday, May 10th. They set a “buy” rating and a $37.00 price target for the company. Raymond James initiated coverage on shares of Hess Midstream in a research note on Friday, April 21st. They set an “outperform” rating and a $35.00 price objective for the company.
Insider Buying and Selling
Hess Midstream Price Performance
Hess Midstream stock opened at $27.52 on Tuesday. The firm has a 50 day simple moving average of $28.38 and a 200-day simple moving average of $29.12. Hess Midstream LP has a 1-year low of $24.33 and a 1-year high of $34.99. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 13.83 and a beta of 1.60.
Hess Midstream Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Thursday, May 4th were given a dividend of $0.5851 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $2.34 dividend on an annualized basis and a dividend yield of 8.50%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.57. Hess Midstream’s dividend payout ratio (DPR) is presently 117.59%.
Hess Midstream Company Profile
Hess Midstream LP engages in the ownership, development, and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage, and Terminaling and Export. The Gathering segment consists of natural gas gathering and compression, crude oil gathering, and produced water gathering and disposal.
- Get a free copy of the StockNews.com research report on Hess Midstream (HESM)
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