Dynamic Technology Lab Private Ltd Purchases New Shares in Hess Midstream LP (NYSE:HESM)

Dynamic Technology Lab Private Ltd acquired a new stake in Hess Midstream LP (NYSE:HESM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,469 shares of the company’s stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its holdings in Hess Midstream by 0.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 182,058 shares of the company’s stock valued at $5,303,000 after purchasing an additional 631 shares in the last quarter. American Financial Group Inc. raised its holdings in Hess Midstream by 5.0% in the 3rd quarter. American Financial Group Inc. now owns 21,000 shares of the company’s stock valued at $612,000 after buying an additional 1,000 shares during the period. First Horizon Advisors Inc. raised its holdings in Hess Midstream by 183.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $57,000 after buying an additional 1,159 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Hess Midstream in the 3rd quarter valued at about $41,000. Finally, Institutional & Family Asset Management LLC raised its holdings in Hess Midstream by 17.9% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 9,586 shares of the company’s stock valued at $279,000 after buying an additional 1,452 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Hess Midstream Stock Performance

NYSE HESM opened at $35.51 on Thursday. The company has a market cap of $7.94 billion, a P/E ratio of 16.07 and a beta of 1.51. The company has a debt-to-equity ratio of 8.67, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $35.31 and a two-hundred day moving average of $33.44. Hess Midstream LP has a 1-year low of $26.86 and a 1-year high of $36.84.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. The business had revenue of $355.60 million during the quarter, compared to the consensus estimate of $354.98 million. As a group, analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were given a dividend of $0.6516 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.34%. Hess Midstream’s payout ratio is currently 118.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group boosted their price objective on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Hess Midstream 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.