Kercheville Advisors LLC Cuts Stock Holdings in Hess Midstream LP (NYSE:HESM)

Kercheville Advisors LLC lowered its holdings in Hess Midstream LP (NYSE:HESM) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,758 shares of the company’s stock after selling 776 shares during the quarter. Hess Midstream makes up 2.8% of Kercheville Advisors LLC’s portfolio, making the stock its 13th biggest position. Kercheville Advisors LLC’s holdings in Hess Midstream were worth $7,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tompkins Financial Corp bought a new stake in shares of Hess Midstream in the 3rd quarter valued at about $71,000. KBC Group NV boosted its stake in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in Hess Midstream in the third quarter worth $100,000. Icon Wealth Advisors LLC increased its position in shares of Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred 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 owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

HESM has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday. Raymond James boosted their price target on 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 Up 1.9 %

HESM stock opened at $41.75 on Thursday. 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 firm’s fifty day simple moving average is $38.34 and its 200-day simple moving average is $36.86. Hess Midstream LP has a 12 month low of $32.15 and a 12 month high of $42.15. The company has a market capitalization of $9.10 billion, a P/E ratio of 16.77 and a beta of 1.53.

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

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.72%. The ex-dividend date is Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is currently 110.04%.

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.