Hess Midstream LP (NYSE:HESM) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,203 shares of the company’s stock after buying an additional 3,736 shares during the period. Arizona State Retirement System’s holdings in Hess Midstream were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HESM. Entropy Technologies LP raised its holdings in Hess Midstream by 33.2% during the third quarter. Entropy Technologies LP now owns 28,691 shares of the company’s stock worth $1,012,000 after purchasing an additional 7,150 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Hess Midstream by 9.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,559 shares of the company’s stock worth $408,000 after purchasing an additional 1,032 shares in the last quarter. KBC Group NV raised its holdings in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Curi RMB Capital LLC raised its holdings in Hess Midstream by 7.0% during the third quarter. Curi RMB Capital LLC now owns 10,139 shares of the company’s stock worth $358,000 after purchasing an additional 660 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Hess Midstream by 21.7% during the third quarter. Empowered Funds LLC now owns 72,199 shares of the company’s stock worth $2,546,000 after purchasing an additional 12,888 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HESM. 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 report on Tuesday, February 4th. Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James increased their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Trading Up 0.1 %

Shares of Hess Midstream stock opened at $40.67 on Friday. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $42.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market cap of $8.87 billion, a PE ratio of 16.34 and a beta of 1.48. The company has a 50-day moving average of $40.21 and a two-hundred day moving average of $37.53.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.90%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

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.