Hess Midstream LP (NYSE:HESM) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 54.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,123 shares of the company’s stock after buying an additional 222,358 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.29% of Hess Midstream worth $24,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Yaupon Capital Management LP acquired a new position in Hess Midstream during the third quarter worth $44,088,000. Artemis Investment Management LLP increased its stake in shares of Hess Midstream by 11.9% during the fourth 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. Jennison Associates LLC raised its position in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock worth $21,755,000 after purchasing an additional 151,220 shares during the last quarter. FMR LLC lifted its stake in Hess Midstream by 4.6% in the 3rd quarter. FMR LLC now owns 539,518 shares of the company’s stock valued at $19,029,000 after buying an additional 23,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Hess Midstream by 6.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company’s stock worth $14,920,000 after buying an additional 23,844 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Trading Down 0.5 %

Shares of HESM stock opened at $42.28 on Tuesday. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05. The company has a 50 day moving average price of $41.18 and a 200 day moving average price of $38.11. The stock has a market capitalization of $9.22 billion, a P/E ratio of 16.98 and a beta of 1.48. 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 (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping 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%. Equities research analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.63%. Hess Midstream’s dividend payout ratio is 112.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HESM. Wells Fargo & Company increased their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Raymond James increased their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a filing with the SEC, which is available through this link.

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.