Hess Midstream LP (NYSE:HESM) Shares Bought by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,175 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Naples Global Advisors LLC’s holdings in Hess Midstream were worth $2,376,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Tompkins Financial Corp purchased a new position in Hess Midstream during the third quarter worth about $71,000. KBC Group NV increased its stake in shares of Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Hess Midstream during the 3rd quarter worth about $100,000. Icon Wealth Advisors LLC lifted 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 worth $116,000 after acquiring an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Trading Down 1.4 %

Shares of HESM stock opened at $38.83 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a fifty-two week low of $32.36 and a fifty-two week high of $42.15. The firm’s 50 day moving average price is $38.60 and its two-hundred day moving average price is $36.94. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 15.59 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is currently 112.45%.

Analyst Upgrades and Downgrades

HESM has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Raymond James upped their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th.

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.