Kayne Anderson Capital Advisors LP Grows Position in Hess Midstream LP (NYSE:HESM)

Kayne Anderson Capital Advisors LP boosted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,640,514 shares of the company’s stock after purchasing an additional 194,154 shares during the quarter. Hess Midstream makes up approximately 2.4% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 15th biggest holding. Kayne Anderson Capital Advisors LP’s holdings in Hess Midstream were worth $93,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HESM. Swiss National Bank boosted its stake in Hess Midstream by 14.8% during the 1st quarter. Swiss National Bank now owns 154,600 shares of the company’s stock valued at $5,586,000 after purchasing an additional 19,900 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Hess Midstream during the 2nd quarter valued at about $6,410,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 54,769 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Hess Midstream by 26.0% in the first quarter. Westwood Holdings Group Inc. now owns 853,682 shares of the company’s stock worth $30,844,000 after acquiring an additional 176,119 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in Hess Midstream by 20.3% during the second quarter. MGO One Seven LLC now owns 174,476 shares of the company’s stock valued at $6,358,000 after acquiring an additional 29,434 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on 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. This represents a 11.67 % decrease in their ownership of the stock. The transaction 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 on Friday, September 20th. The stock was 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.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $35.34 on Monday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $35.58 and a 200-day moving average of $35.98. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 14.97 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. As a group, sell-side analysts predict that Hess Midstream LP will post 2.45 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.75%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream’s dividend payout ratio is presently 115.68%.

Hess Midstream 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.