Infrastructure Investor Global Sells 12,650,000 Shares of Hess Midstream LP (NYSE:HESM) Stock

Hess Midstream LP (NYSE:HESM) 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 this hyperlink.

Hess Midstream Stock Down 0.3 %

Shares of NYSE:HESM opened at $35.57 on Friday. The firm has a market cap of $7.95 billion, a PE ratio of 16.10 and a beta of 1.52. The company has a fifty day simple moving average of $36.73 and a 200 day simple moving average of $35.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 12-month low of $27.57 and a 12-month high of $39.11.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $365.16 million. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream LP will post 2.36 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were issued a $0.6677 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date was Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is currently 120.81%.

Institutional Trading of Hess Midstream

A number of institutional investors and hedge funds have recently modified their holdings of HESM. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hess Midstream in the second quarter worth $1,691,000. Sanctuary Advisors LLC acquired a new stake in shares of Hess Midstream in the 2nd quarter worth about $426,000. Algert Global LLC bought a new stake in Hess Midstream in the 2nd quarter valued at about $330,000. Duff & Phelps Investment Management Co. acquired a new position in Hess Midstream during the 2nd quarter valued at about $744,000. Finally, Susquehanna Fundamental Investments LLC grew its position in Hess Midstream by 32.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 172,168 shares of the company’s stock worth $6,274,000 after purchasing an additional 41,832 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on HESM shares. UBS Group increased their price objective on shares of Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

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.