Kesler Norman & Wride LLC Increases Stake in Hess Midstream LP (NYSE:HESM)

Kesler Norman & Wride LLC boosted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 58.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,906 shares of the company’s stock after buying an additional 8,412 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Hess Midstream were worth $848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. FMR LLC raised its stake in shares of Hess Midstream by 4.6% in the third quarter. FMR LLC now owns 539,518 shares of the company’s stock valued at $19,029,000 after acquiring an additional 23,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hess Midstream by 11.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,436 shares of the company’s stock worth $968,000 after purchasing an additional 2,818 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Hess Midstream by 9.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company’s stock valued at $7,093,000 after purchasing an additional 17,261 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Hess Midstream in the 3rd quarter valued at about $759,000. Finally, Verition Fund Management LLC grew its position in shares of Hess Midstream by 204.0% during the third quarter. Verition Fund Management LLC now owns 66,390 shares of the company’s stock worth $2,342,000 after buying an additional 44,553 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Stock Up 0.4 %

HESM stock opened at $42.47 on Wednesday. The stock has a market cap of $9.26 billion, a P/E ratio of 17.05 and a beta of 1.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05. The company’s 50 day moving average is $41.21 and its two-hundred day moving average is $38.15.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 112.45%.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HESM shares. Raymond James raised their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Citigroup lifted their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company increased their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Hess Midstream has an average rating of “Moderate Buy” and an average price target of $43.00.

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.