Lindbrook Capital LLC Raises Stake in Hess Midstream LP (NYSE:HESM)

Lindbrook Capital LLC boosted its holdings in Hess Midstream LP (NYSE:HESM) by 50.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,558 shares of the company’s stock after purchasing an additional 7,223 shares during the quarter. Lindbrook Capital LLC’s holdings in Hess Midstream were worth $760,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HESM. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hess Midstream in the first quarter valued at about $30,000. Clear Point Advisors Inc. acquired a new stake in Hess Midstream in the first quarter valued at approximately $49,000. Geneos Wealth Management Inc. raised its stake in shares of Hess Midstream by 31.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the period. Comerica Bank lifted its position in shares of Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares in the last quarter. Finally, South Street Advisors LLC acquired a new stake in Hess Midstream during the 2nd quarter valued at $211,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Down 0.9 %

HESM stock opened at $35.07 on Friday. The company has a market capitalization of $7.74 billion, a P/E ratio of 14.86 and a beta of 1.51. The firm has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $35.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a twelve month low of $29.35 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 49.72%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. On average, equities research analysts predict that Hess Midstream LP will post 2.45 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a dividend of $0.6846 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 7.81%. Hess Midstream’s dividend payout ratio (DPR) is 115.68%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.