Wealth Alliance Acquires Shares of 6,559 Hess Midstream LP (NYSE:HESM)

Wealth Alliance acquired a new stake in shares of Hess Midstream LP (NYSE:HESM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,559 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Hess Midstream during the third quarter valued at $32,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Hess Midstream in the 3rd quarter worth about $41,000. Dark Forest Capital Management LP bought a new stake in shares of Hess Midstream in the 1st quarter worth about $53,000. Great West Life Assurance Co. Can lifted its holdings in shares of Hess Midstream by 83.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock worth $56,000 after acquiring an additional 804 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in shares of Hess Midstream in the 3rd quarter worth about $71,000. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Up 1.4 %

Shares of HESM opened at $35.34 on Friday. Hess Midstream LP has a 1-year low of $26.86 and a 1-year high of $36.84. The company has a 50-day moving average of $34.96 and a 200 day moving average of $32.58. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 16.91 and a beta of 1.50. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The company had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Hess Midstream LP will post 2.54 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were issued a dividend of $0.6343 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 dividend on an annualized basis and a yield of 7.18%. Hess Midstream’s dividend payout ratio (DPR) is presently 121.53%.

Analyst Ratings Changes

HESM has been the subject of several analyst reports. UBS Group raised their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hess Midstream Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It 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.