Castellan Group Sells 999 Shares of Hess Midstream LP (NYSE:HESM)

Castellan Group cut its position in Hess Midstream LP (NYSE:HESM) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,699 shares of the company’s stock after selling 999 shares during the quarter. Hess Midstream comprises about 1.6% of Castellan Group’s portfolio, making the stock its 28th biggest holding. Castellan Group’s holdings in Hess Midstream were worth $3,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of HESM. Sanctuary Advisors LLC increased its holdings in Hess Midstream by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company’s stock worth $469,000 after purchasing an additional 561 shares in the last quarter. McIlrath & Eck LLC bought a new position in Hess Midstream in the third quarter worth approximately $455,000. M&T Bank Corp bought a new stake in Hess Midstream during the third quarter worth $1,058,000. MML Investors Services LLC grew its holdings in Hess Midstream by 31.2% during the third quarter. MML Investors Services LLC now owns 76,264 shares of the company’s stock worth $2,690,000 after buying an additional 18,158 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in Hess Midstream in the 3rd quarter valued at $44,088,000. 98.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hess Midstream Trading Down 0.3 %

NYSE HESM traded down $0.09 on Thursday, hitting $35.89. The company’s stock had a trading volume of 91,294 shares, compared to its average volume of 875,203. Hess Midstream LP has a 52-week low of $30.14 and a 52-week high of $39.11. 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 company’s 50-day simple moving average is $35.91 and its 200 day simple moving average is $36.18. The firm has a market cap of $7.82 billion, a P/E ratio of 15.25 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data 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 47.87% and a net margin of 13.06%. The company had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Hess Midstream’s revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date was Thursday, November 7th. Hess Midstream’s payout ratio is currently 116.10%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research report 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.