CANADA LIFE ASSURANCE Co Boosts Holdings in Hess Midstream LP (NYSE:HESM)

CANADA LIFE ASSURANCE Co raised its holdings in Hess Midstream LP (NYSE:HESM) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,150 shares of the company’s stock after purchasing an additional 2,701 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Hess Midstream were worth $486,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Steward Partners Investment Advisory LLC grew its holdings in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after buying an additional 579 shares during the last quarter. US Bancorp DE lifted its position in shares of Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 510 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Hess Midstream by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after acquiring an additional 733 shares during the last quarter. KBC Group NV increased its position in Hess Midstream by 80.0% during the 4th quarter. KBC Group NV now owns 5,046 shares of the company’s stock worth $187,000 after purchasing an additional 2,243 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new position in Hess Midstream in the 4th quarter valued at about $218,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Trading Down 1.3 %

Shares of HESM opened at $38.39 on Wednesday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05. The stock has a market cap of $8.37 billion, a PE ratio of 15.42 and a beta of 1.14. The stock’s 50-day moving average is $39.81 and its two-hundred day moving average is $38.36.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Thursday, May 8th will be paid a dividend of $0.7098 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, May 8th. This represents a $2.84 annualized dividend and a yield of 7.40%. Hess Midstream’s payout ratio is 112.45%.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Finally, Raymond James lifted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.