Seelaus Asset Management LLC Buys 300 Shares of Hess Midstream LP (NYSE:HESM)

Seelaus Asset Management LLC increased its stake in shares of Hess Midstream LP (NYSE:HESM) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the company’s stock after buying an additional 300 shares during the quarter. Seelaus Asset Management LLC’s holdings in Hess Midstream were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HESM. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream during the first quarter worth about $30,000. Clear Point Advisors Inc. purchased a new stake in shares of Hess Midstream during the 1st quarter valued at $49,000. Tompkins Financial Corp bought a new stake in shares of Hess Midstream during the 3rd quarter worth $71,000. KBC Group NV boosted its holdings in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the last quarter. Finally, Comerica Bank grew its position in Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after buying an additional 385 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Hess Midstream Stock Up 0.4 %

HESM stock opened at $35.36 on Friday. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The stock has a fifty day moving average of $35.58 and a 200-day moving average of $35.95. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 14.98 and a beta of 1.51. 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 (NYSE:HESM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Hess Midstream LP will post 2.45 earnings per share for the current 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 issued a dividend of $0.6846 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 7.75%. Hess Midstream’s dividend payout ratio is 116.10%.

Insiders Place Their Bets

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

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.