Hess Midstream LP (NYSE:HESM) Shares Acquired by Curi RMB Capital LLC

Curi RMB Capital LLC boosted its stake in Hess Midstream LP (NYSE:HESM) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,139 shares of the company’s stock after purchasing an additional 660 shares during the quarter. Curi RMB Capital LLC’s holdings in Hess Midstream were worth $358,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of HESM. Allspring Global Investments Holdings LLC purchased a new stake in shares of Hess Midstream during the 1st quarter valued at $30,000. Clear Point Advisors Inc. purchased a new stake in Hess Midstream during the first quarter valued at about $49,000. Tompkins Financial Corp acquired a new stake in Hess Midstream during the third quarter worth about $71,000. KBC Group NV raised its holdings in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares during the period. Finally, Comerica Bank raised its holdings in shares of Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st.

Hess Midstream Stock Up 0.4 %

Shares of NYSE HESM opened at $35.34 on Friday. The stock has a fifty day moving average price of $35.58 and a 200 day moving average price of $35.96. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $30.08 and a 12-month high of $39.11. The company has a market cap of $7.80 billion, a P/E ratio of 14.97 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Research analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.75%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is currently 116.10%.

Insider Transactions at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The disclosure for this sale can be found here.

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.