NBC Securities Inc. Raises Position in Hess Midstream LP (NYSE:HESM)

NBC Securities Inc. grew its holdings in Hess Midstream LP (NYSE:HESM) by 24,034.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,134 shares of the company’s stock after acquiring an additional 24,034 shares during the period. NBC Securities Inc.’s holdings in Hess Midstream were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Creative Planning grew its position in shares of Hess Midstream by 32.6% during the third quarter. Creative Planning now owns 7,390 shares of the company’s stock worth $261,000 after buying an additional 1,815 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Hess Midstream by 15.0% in the third quarter. Exchange Traded Concepts LLC now owns 122,185 shares of the company’s stock worth $4,309,000 after acquiring an additional 15,951 shares during the last quarter. A. D. Beadell Investment Counsel Inc. acquired a new position in Hess Midstream during the 3rd quarter worth approximately $839,000. Artemis Investment Management LLP increased its position in shares of Hess Midstream by 16.9% in the 3rd quarter. Artemis Investment Management LLP now owns 760,682 shares of the company’s stock valued at $26,829,000 after purchasing an additional 109,916 shares during the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in shares of Hess Midstream in the 3rd quarter valued at $511,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Up 0.4 %

Shares of Hess Midstream stock opened at $36.00 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The company has a fifty day simple moving average of $36.13 and a 200-day simple moving average of $36.00. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 16.29 and a beta of 1.51. Hess Midstream LP has a 12-month low of $29.20 and a 12-month high of $39.11.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $365.16 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Hess Midstream’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream LP will post 2.36 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were paid a dividend of $0.6677 per share. This represents a $2.67 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date was Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s dividend payout ratio (DPR) is currently 120.81%.

Insiders Place Their Bets

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HESM shares. UBS Group boosted their target price on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st.

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.