Swiss National Bank Grows Holdings in Hess Midstream LP (NYSE:HESM)

Swiss National Bank grew its holdings in Hess Midstream LP (NYSE:HESM) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 204,700 shares of the company’s stock after acquiring an additional 4,700 shares during the quarter. Swiss National Bank’s holdings in Hess Midstream were worth $7,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV increased its stake in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after buying an additional 1,279 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Hess Midstream by 147.6% during the third quarter. Thrivent Financial for Lutherans now owns 200,062 shares of the company’s stock valued at $7,056,000 after buying an additional 119,277 shares during the period. Advisors Asset Management Inc. boosted its position in Hess Midstream by 19.4% during the third quarter. Advisors Asset Management Inc. now owns 67,939 shares of the company’s stock valued at $2,396,000 after purchasing an additional 11,061 shares in the last quarter. Algert Global LLC boosted its position in Hess Midstream by 1,215.4% during the third quarter. Algert Global LLC now owns 119,105 shares of the company’s stock valued at $4,201,000 after purchasing an additional 110,050 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in Hess Midstream by 25.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 45,029 shares of the company’s stock valued at $1,588,000 after purchasing an additional 9,061 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HESM. Wells Fargo & Company raised their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Raymond James raised their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup raised their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Down 1.9 %

Shares of HESM stock opened at $42.71 on Friday. The stock has a 50 day moving average of $40.88 and a 200 day moving average of $37.81. 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 $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share 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, sell-side analysts expect that Hess Midstream LP will post 2.5 EPS for the current 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 given a $0.7012 dividend. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.57%. Hess Midstream’s payout ratio is 112.45%.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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.