Resona Asset Management Co. Ltd. Invests $690,000 in Hess Midstream LP (NYSE:HESM)

Resona Asset Management Co. Ltd. bought a new stake in Hess Midstream LP (NYSE:HESM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,622 shares of the company’s stock, valued at approximately $690,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HESM. Steward Partners Investment Advisory LLC increased its holdings in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after acquiring an additional 579 shares during the last quarter. US Bancorp DE boosted its holdings in 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 purchasing an additional 510 shares in the last quarter. IFP Advisors Inc increased its stake in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. KBC Group NV raised its holdings in Hess Midstream by 80.0% during the fourth 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, South Street Advisors LLC lifted its position in shares of Hess Midstream by 7.8% during the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company’s stock worth $231,000 after buying an additional 450 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction dated 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 SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Hess Midstream Trading Down 3.9 %

Shares of Hess Midstream stock opened at $35.42 on Friday. The company’s fifty day moving average is $40.56 and its two-hundred day moving average is $38.20. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $44.05. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $7.72 billion, a P/E ratio of 14.22 and a beta of 1.14.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results 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 return on equity of 54.59% and a net margin of 14.92%. Analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a dividend yield of 7.92%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is 112.45%.

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.