Westwood Holdings Group Inc. Purchases 176,119 Shares of Hess Midstream LP (NYSE:HESM)

Westwood Holdings Group Inc. raised its position in Hess Midstream LP (NYSE:HESM) by 26.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 853,682 shares of the company’s stock after acquiring an additional 176,119 shares during the period. Westwood Holdings Group Inc. owned approximately 0.38% of Hess Midstream worth $30,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Hess Midstream by 393.4% during the fourth quarter. Raymond James & Associates now owns 38,982 shares of the company’s stock worth $1,233,000 after acquiring an additional 31,082 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Hess Midstream by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 185,356 shares of the company’s stock worth $5,863,000 after purchasing an additional 4,372 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new position in Hess Midstream during the 4th quarter valued at approximately $1,290,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Hess Midstream by 38.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after buying an additional 887,859 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in shares of Hess Midstream by 17.7% during the fourth quarter. Miller Howard Investments Inc. NY now owns 585,462 shares of the company’s stock worth $18,518,000 after buying an additional 88,055 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HESM shares. JPMorgan Chase & Co. raised their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Finally, UBS Group upped their target price on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Two 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, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 1,500,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Stock Performance

Shares of HESM stock traded down $0.39 on Friday, hitting $36.56. The company had a trading volume of 1,087,515 shares, compared to its average volume of 683,571. Hess Midstream LP has a twelve month low of $27.57 and a twelve month high of $39.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 8.67. The firm has a market cap of $8.17 billion, a P/E ratio of 16.53 and a beta of 1.52. The company has a 50-day moving average price of $36.50 and a 200-day moving average price of $35.28.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $365.16 million. Hess Midstream had a return on equity of 42.07% and a net margin of 11.59%. Hess Midstream’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, equities research analysts predict that Hess Midstream LP will post 2.26 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, August 14th. Investors of record on Thursday, August 8th will be issued a dividend of $0.6677 per share. The ex-dividend date of this dividend is Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a yield of 7.31%. Hess Midstream’s dividend payout ratio is 118.10%.

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.