Hess Midstream LP (NYSE:HESM) Stake Raised by Lee Financial Co

Lee Financial Co increased its holdings in Hess Midstream LP (NYSE:HESM) by 299.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,339 shares of the company’s stock after acquiring an additional 1,004 shares during the period. Lee Financial Co’s holdings in Hess Midstream were worth $41,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HESM. IFP Advisors Inc increased its position in Hess Midstream by 92.7% in the 1st quarter. IFP Advisors Inc now owns 1,339 shares of the company’s stock worth $29,000 after purchasing an additional 644 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Hess Midstream in the 3rd quarter worth about $32,000. Ameritas Advisory Services LLC acquired a new position in Hess Midstream in the 1st quarter worth about $37,000. Avion Wealth acquired a new position in shares of Hess Midstream during the 2nd quarter valued at about $46,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Hess Midstream during the 1st quarter valued at about $53,000. 86.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of Hess Midstream stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $28.59, for a total transaction of $42,885,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Trading Down 0.2 %

HESM stock opened at $29.39 on Friday. The business has a fifty day moving average price of $29.71 and a 200 day moving average price of $29.58. Hess Midstream LP has a fifty-two week low of $25.63 and a fifty-two week high of $32.43. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.48 and a beta of 1.60. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.79 and a quick ratio of 0.79.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Hess Midstream had a return on equity of 22.28% and a net margin of 7.87%. The firm had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $342.22 million. Analysts expect that Hess Midstream LP will post 2.01 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, November 2nd will be paid a $0.618 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.60. This represents a $2.47 annualized dividend and a dividend yield of 8.41%. The ex-dividend date of this dividend is Wednesday, November 1st. Hess Midstream’s dividend payout ratio (DPR) is 121.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Hess Midstream from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. The Goldman Sachs Group began coverage on Hess Midstream in a report on Thursday, October 5th. They set a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company increased their target price on Hess Midstream from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, July 28th. UBS Group decreased their target price on Hess Midstream from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Finally, Morgan Stanley restated an “equal weight” rating and set a $36.00 target price on shares of Hess Midstream in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Hess Midstream Company Profile

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 systems; crude oil gathering systems; and produced water gathering and disposal facilities.