SG Americas Securities LLC Reduces Holdings in Hess Midstream LP (NYSE:HESM)

SG Americas Securities LLC reduced its position in Hess Midstream LP (NYSE:HESM) by 18.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 165,388 shares of the company’s stock after selling 37,230 shares during the period. SG Americas Securities LLC’s holdings in Hess Midstream were worth $6,124,000 at the end of the most recent quarter.

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

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $41.38 on Friday. 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 LP has a one year low of $32.15 and a one year high of $41.61. The company has a 50-day simple moving average of $37.63 and a 200-day simple moving average of $36.70. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.53 and a beta of 1.52.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 6.62%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s dividend payout ratio (DPR) is 116.10%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.