Teamwork Financial Advisors LLC Increases Stake in Hess Midstream LP (NYSE:HESM)

Teamwork Financial Advisors LLC lifted its stake in Hess Midstream LP (NYSE:HESM) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,035 shares of the company’s stock after buying an additional 286 shares during the period. Teamwork Financial Advisors LLC’s holdings in Hess Midstream were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in Hess Midstream by 18.1% during the 2nd quarter. American Century Companies Inc. now owns 132,450 shares of the company’s stock valued at $4,826,000 after buying an additional 20,344 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Hess Midstream by 4.0% during the second quarter. Pacer Advisors Inc. now owns 37,543 shares of the company’s stock worth $1,368,000 after purchasing an additional 1,451 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Hess Midstream in the second quarter worth about $2,944,000. ProShare Advisors LLC increased its holdings in Hess Midstream by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after purchasing an additional 323 shares during the period. Finally, Aristeia Capital L.L.C. raised its position in Hess Midstream by 21.8% during the 2nd quarter. Aristeia Capital L.L.C. now owns 9,420 shares of the company’s stock valued at $343,000 after purchasing an additional 1,684 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hess Midstream Price Performance

Shares of HESM stock opened at $40.78 on Thursday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. Hess Midstream LP has a fifty-two week low of $32.15 and a fifty-two week high of $41.61. The firm has a market cap of $8.89 billion, a P/E ratio of 17.28 and a beta of 1.52. The business’s 50 day moving average price is $37.39 and its 200-day moving average price is $36.64.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a yield of 6.72%. Hess Midstream’s dividend payout ratio (DPR) is 116.10%.

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.