Navellier & Associates Inc. Acquires New Shares in Hess Midstream LP (NYSE:HESM)

Navellier & Associates Inc. acquired a new stake in Hess Midstream LP (NYSE:HESM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,780 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ING Groep NV bought a new position in Hess Midstream in the 4th quarter valued at approximately $4,036,000. Hardy Reed LLC lifted its position in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company’s stock valued at $333,000 after acquiring an additional 450 shares in the last quarter. Corps Capital Advisors LLC bought a new position in Hess Midstream in the 4th quarter valued at approximately $555,000. Financial Sense Advisors Inc. lifted its position in Hess Midstream by 150.9% in the 4th quarter. Financial Sense Advisors Inc. now owns 139,801 shares of the company’s stock valued at $5,177,000 after acquiring an additional 84,085 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Hess Midstream by 9.8% during the 4th quarter. Venturi Wealth Management LLC now owns 16,506 shares of the company’s stock valued at $611,000 after buying an additional 1,472 shares during the period. 98.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $40.66 on Monday. Hess Midstream LP has a one year low of $32.75 and a one year high of $42.15. The stock’s fifty day moving average is $39.17 and its 200 day moving average is $37.13. The stock has a market cap of $8.86 billion, a P/E ratio of 16.33 and a beta of 1.53. 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 announced its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Sell-side analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup increased 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. Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.