South Street Advisors LLC Grows Stock Holdings in Hess Midstream LP (NYSE:HESM)

South Street Advisors LLC grew its position in shares of Hess Midstream LP (NYSE:HESM) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 6,250 shares of the company’s stock after purchasing an additional 450 shares during the period. South Street Advisors LLC’s holdings in Hess Midstream were worth $231,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Yaupon Capital Management LP purchased a new position in Hess Midstream in the 3rd quarter worth approximately $44,088,000. Soros Fund Management LLC purchased a new position in shares of Hess Midstream in the third quarter worth about $14,108,000. Raymond James Financial Inc. purchased a new position in shares of Hess Midstream in the fourth quarter worth about $12,976,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Hess Midstream during the 4th quarter valued at about $8,786,000. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $43.19 on Tuesday. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $43.42. The firm has a market cap of $9.42 billion, a P/E ratio of 17.35 and a beta of 1.48. The company has a 50 day moving average of $40.47 and a 200 day moving average of $37.64. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

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

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.49%. Hess Midstream’s payout ratio is currently 112.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.