Hess Midstream LP (NYSE:HESM) Stake Raised by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC boosted its holdings in Hess Midstream LP (NYSE:HESM) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195,231 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Hess Midstream were worth $7,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP raised its position in Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after acquiring an additional 194,154 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Hess Midstream by 3.8% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company’s stock worth $46,691,000 after purchasing an additional 49,003 shares in the last quarter. Yaupon Capital Management LP purchased a new position in Hess Midstream in the 3rd quarter worth about $44,088,000. Artemis Investment Management LLP increased its stake in Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock worth $31,520,000 after purchasing an additional 90,521 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC increased its stake in Hess Midstream by 24.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company’s stock worth $21,683,000 after purchasing an additional 121,342 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hess Midstream Trading Up 0.6 %

NYSE:HESM opened at $39.83 on Monday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a fifty-two week low of $32.73 and a fifty-two week high of $42.15. The stock’s 50-day moving average is $38.70 and its two-hundred day moving average is $36.97. The stock has a market cap of $8.68 billion, a PE ratio of 16.00 and a beta of 1.53.

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

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 7.04%. Hess Midstream’s payout ratio is presently 112.45%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HESM. Raymond James lifted their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th.

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.