Hess Midstream LP (NYSE:HESM) Shares Acquired by Swiss National Bank

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

In related news, Director Corp Hess sold 6,382,500 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $26.12, for a total transaction of $166,710,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Corp Hess sold 6,382,500 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $26.12, for a total transaction of $166,710,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan C. Stein sold 3,973 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $27.38, for a total transaction of $108,780.74. Following the transaction, the chief financial officer now directly owns 43,197 shares of the company’s stock, valued at approximately $1,182,733.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,393,286 shares of company stock valued at $167,009,522.

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

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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.