Hess Midstream LP (NYSE:HESM) Stock Position Raised by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in shares of Hess Midstream LP (NYSE:HESM) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,014 shares of the company’s stock after purchasing an additional 9,767 shares during the period. Quantbot Technologies LP’s holdings in Hess Midstream were worth $4,586,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HESM. Tompkins Financial Corp acquired a new position in Hess Midstream in the 3rd quarter valued at approximately $71,000. KBC Group NV boosted its position in 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 purchasing an additional 1,279 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares during the last quarter. Comerica Bank raised its stake in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its holdings in shares of Hess Midstream by 5.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock valued at $205,000 after buying an additional 300 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Stock Performance

NYSE:HESM opened at $37.18 on Wednesday. Hess Midstream LP has a 52-week low of $30.08 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 15.75 and a beta of 1.51. The firm’s 50-day moving average is $35.61 and its 200-day moving average is $36.05.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. This represents a $2.74 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is 115.68%.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $444,268,000.00. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

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

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.