CFM Wealth Partners LLC Sells 6,998 Shares of Hess Midstream LP (NYSE:HESM)

CFM Wealth Partners LLC decreased its position in shares of Hess Midstream LP (NYSE:HESM) by 16.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,262 shares of the company’s stock after selling 6,998 shares during the quarter. CFM Wealth Partners LLC’s holdings in Hess Midstream were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its position in shares of Hess Midstream by 12.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock worth $270,686,000 after buying an additional 822,311 shares in the last quarter. TD Asset Management Inc boosted its position in Hess Midstream by 10.4% during the second quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock valued at $125,046,000 after purchasing an additional 322,479 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Hess Midstream by 23.5% in the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock worth $107,619,000 after acquiring an additional 562,688 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after acquiring an additional 1,082,840 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Hess Midstream by 55.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company’s stock worth $47,170,000 after acquiring an additional 467,601 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Stock Down 1.1 %

Shares of HESM stock opened at $35.85 on Wednesday. The stock has a 50 day moving average of $36.12 and a 200 day moving average of $36.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The stock has a market cap of $8.01 billion, a P/E ratio of 16.22 and a beta of 1.51. Hess Midstream LP has a twelve month low of $29.20 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. Hess Midstream’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. As a group, sell-side analysts expect that Hess Midstream LP will post 2.36 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were issued a $0.6677 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend was Thursday, August 8th. Hess Midstream’s dividend payout ratio (DPR) is presently 120.81%.

Analysts Set New Price Targets

Several brokerages have weighed in on HESM. UBS Group raised their price target on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their price objective on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.