Exchange Traded Concepts LLC Has $4.27 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Exchange Traded Concepts LLC lessened its holdings in Hess Midstream LP (NYSE:HESM) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 115,319 shares of the company’s stock after selling 6,866 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Hess Midstream were worth $4,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tompkins Financial Corp acquired a new stake in Hess Midstream in the third quarter valued at about $71,000. KBC Group NV lifted its holdings in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream in the 3rd quarter valued at approximately $100,000. Icon Wealth Advisors LLC grew its holdings in shares of Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $41.38 on Friday. Hess Midstream LP has a one year low of $32.15 and a one year high of $41.61. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 17.53 and a beta of 1.52. The firm has a 50 day simple moving average of $37.63 and a 200 day simple moving average of $36.70.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts predict that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 annualized dividend and a dividend yield of 6.62%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is presently 116.10%.

Insider Transactions at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hess Midstream Company 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.