Tompkins Financial Corp Acquires New Holdings in Hess Midstream LP (NYSE:HESM)

Tompkins Financial Corp acquired a new position in Hess Midstream LP (NYSE:HESM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds have also recently bought and sold shares of HESM. Swiss National Bank grew its stake in Hess Midstream by 14.8% in the 1st quarter. Swiss National Bank now owns 154,600 shares of the company’s stock valued at $5,586,000 after buying an additional 19,900 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Hess Midstream in the first quarter worth $4,709,000. SG Americas Securities LLC bought a new position in Hess Midstream during the second quarter worth $6,410,000. Illinois Municipal Retirement Fund acquired a new position in Hess Midstream during the 1st quarter valued at $1,214,000. Finally, Vanguard Group Inc. grew its position in Hess Midstream by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 456,607 shares of the company’s stock worth $16,497,000 after purchasing an additional 54,769 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

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

Hess Midstream Price Performance

NYSE:HESM opened at $35.07 on Friday. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 14.86 and a beta of 1.51. The company has a 50-day moving average of $35.73 and a 200-day moving average of $35.96. Hess Midstream LP has a 52 week low of $29.35 and a 52 week high of $39.11. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 49.72% and a net margin of 13.06%. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same quarter last year, the company earned $0.57 EPS. Hess Midstream’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Hess Midstream LP will post 2.45 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a yield of 7.81%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, November 7th. Hess Midstream’s dividend payout ratio is currently 115.68%.

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.