Hess Midstream LP (NYSE:HESM) Shares Bought by Swiss National Bank

Swiss National Bank raised its holdings in Hess Midstream LP (NYSE:HESM) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the company’s stock after purchasing an additional 23,100 shares during the period. Swiss National Bank’s holdings in Hess Midstream were worth $7,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HESM. Naples Global Advisors LLC boosted its holdings in Hess Midstream by 0.5% in the 2nd quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after buying an additional 300 shares during the last quarter. Seelaus Asset Management LLC boosted its stake in shares of Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after acquiring an additional 300 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Hess Midstream by 4.8% during the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock worth $258,000 after purchasing an additional 323 shares in the last quarter. Granite Group Advisors LLC raised its stake in Hess Midstream by 5.6% in the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after purchasing an additional 385 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the company’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 in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st.

Hess Midstream Trading Up 1.5 %

Shares of Hess Midstream stock opened at $37.18 on Wednesday. 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 stock’s 50 day simple moving average is $35.61 and its 200-day simple moving average is $36.05. The stock has a market cap of $8.11 billion, a P/E ratio of 15.73 and a beta of 1.51. Hess Midstream LP has a 1-year low of $30.08 and a 1-year high of $39.11.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 for 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. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts predict that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s dividend payout ratio (DPR) is presently 116.10%.

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.