Janus Henderson Group PLC Has $1.59 Million Holdings in Hess Midstream LP (NYSE:HESM)

Janus Henderson Group PLC increased its holdings in Hess Midstream LP (NYSE:HESM) by 25.9% in the third quarter, Holdings Channel reports. The institutional investor owned 45,104 shares of the company’s stock after buying an additional 9,269 shares during the period. Janus Henderson Group PLC’s holdings in Hess Midstream were worth $1,591,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Tompkins Financial Corp acquired a new position in Hess Midstream in the 3rd quarter valued at $71,000. KBC Group NV grew its holdings in shares of Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Icon Wealth Advisors LLC increased its position in shares of Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares during the period. Brown Brothers Harriman & Co. raised its stake in Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares in the last quarter. Finally, Comerica Bank lifted its position in Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hess Midstream

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The disclosure for this sale can be found here.

Hess Midstream Price Performance

Hess Midstream stock opened at $36.70 on Friday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a 52 week low of $30.72 and a 52 week high of $39.11. The stock has a market capitalization of $8.00 billion, a P/E ratio of 15.55 and a beta of 1.53. The stock has a fifty day moving average of $35.91 and a 200-day moving average of $36.19.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.6846 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 annualized dividend and a yield of 7.46%. Hess Midstream’s dividend payout ratio is presently 116.10%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st.

About Hess Midstream

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.