LPL Financial LLC Has $1.87 Million Position in Hess Midstream LP (NYSE:HESM)

LPL Financial LLC raised its stake in shares of Hess Midstream LP (NYSE:HESM – Get Rating) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,373 shares of the company’s stock after purchasing an additional 2,268 shares during the period. LPL Financial LLC’s holdings in Hess Midstream were worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. Energy Income Partners LLC grew its stake in shares of Hess Midstream by 2.9% in the third quarter. Energy Income Partners LLC now owns 3,168,911 shares of the company’s stock worth $80,870,000 after acquiring an additional 89,620 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Hess Midstream by 50.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,966,157 shares of the company’s stock valued at $58,985,000 after buying an additional 659,514 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Hess Midstream by 37.1% in the third quarter. First Trust Advisors LP now owns 1,486,405 shares of the company’s stock valued at $37,933,000 after buying an additional 401,869 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Hess Midstream by 92.5% in the first quarter. Clearbridge Investments LLC now owns 996,894 shares of the company’s stock valued at $29,907,000 after buying an additional 478,894 shares in the last quarter. Finally, UBS Group AG raised its holdings in Hess Midstream by 48.1% during the 1st quarter. UBS Group AG now owns 602,543 shares of the company’s stock worth $18,077,000 after purchasing an additional 195,819 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 recent research reports. Raymond James assumed coverage on Hess Midstream in a report on Friday, April 21st. They set an “outperform” rating and a $35.00 price objective for the company. UBS Group initiated coverage on Hess Midstream in a research note on Wednesday, May 10th. They set a “buy” rating and a $37.00 target price for the company.

Hess Midstream Trading Up 0.7 %

NYSE HESM opened at $27.71 on Wednesday. The company has a market cap of $1.22 billion, a PE ratio of 13.92 and a beta of 1.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 6.81. Hess Midstream LP has a 12 month low of $24.33 and a 12 month high of $34.99. The stock has a 50 day moving average of $28.40 and a 200-day moving average of $29.11.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Thursday, May 4th were issued a $0.5851 dividend. This represents a $2.34 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend was Wednesday, May 3rd. This is an increase from Hess Midstream’s previous quarterly dividend of $0.57. Hess Midstream’s dividend payout ratio is presently 117.59%.

Insider Activity at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 2,239 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $28.26, for a total transaction of $63,274.14. Following the transaction, the chief financial officer now owns 39,389 shares in the company, valued at approximately $1,113,133.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hess Midstream news, CFO Jonathan C. Stein sold 2,239 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $28.26, for a total transaction of $63,274.14. Following the transaction, the chief financial officer now owns 39,389 shares in the company, valued at approximately $1,113,133.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corp Hess sold 6,382,500 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $26.12, for a total value of $166,710,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,393,286 shares of company stock worth $167,009,522.

About Hess Midstream

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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.