Hess Midstream LP (NYSE:HESM) Shares Purchased by Leisure Capital Management

Leisure Capital Management boosted its holdings in Hess Midstream LP (NYSE:HESM) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,148 shares of the company’s stock after purchasing an additional 1,425 shares during the quarter. Leisure Capital Management’s holdings in Hess Midstream were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HESM. Kayne Anderson Capital Advisors LP boosted its stake in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Hess Midstream by 3.8% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company’s stock worth $46,691,000 after acquiring an additional 49,003 shares during the last quarter. Yaupon Capital Management LP acquired a new position in shares of Hess Midstream in the third quarter worth about $44,088,000. Artemis Investment Management LLP boosted its holdings in Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after purchasing an additional 90,521 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC grew its stake in Hess Midstream by 24.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company’s stock valued at $21,683,000 after purchasing an additional 121,342 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $2,117,257.40. This trade 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 the SEC website.

Wall Street Analysts Forecast Growth

Separately, Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th.

Hess Midstream Stock Down 3.2 %

Shares of Hess Midstream stock opened at $40.57 on Monday. Hess Midstream LP has a twelve month low of $32.15 and a twelve month high of $42.15. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 16.29 and a beta of 1.53. 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 business’s 50 day simple moving average is $38.09 and its 200-day simple moving average is $36.79.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities research analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be given a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.91%. Hess Midstream’s dividend payout ratio is 110.04%.

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.