Wealth Alliance Invests $207,000 in Hess Midstream LP (NYSE:HESM)

Wealth Alliance purchased a new position in shares of Hess Midstream LP (NYSE:HESM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,559 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in HESM. Advisor Group Holdings Inc. increased its stake in shares of Hess Midstream by 6.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock worth $174,000 after buying an additional 358 shares during the period. Legal & General Group Plc increased its stake in shares of Hess Midstream by 3.2% during the fourth quarter. Legal & General Group Plc now owns 11,672 shares of the company’s stock worth $349,000 after buying an additional 360 shares during the period. California State Teachers Retirement System increased its stake in shares of Hess Midstream by 1.4% during the first quarter. California State Teachers Retirement System now owns 28,844 shares of the company’s stock worth $865,000 after buying an additional 411 shares during the period. Guggenheim Capital LLC increased its stake in shares of Hess Midstream by 5.6% during the first quarter. Guggenheim Capital LLC now owns 9,602 shares of the company’s stock worth $288,000 after buying an additional 510 shares during the period. Finally, NBW Capital LLC increased its stake in Hess Midstream by 0.3% in the fourth quarter. NBW Capital LLC now owns 185,916 shares of the company’s stock valued at $5,563,000 after purchasing an additional 556 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Hess Midstream Stock Performance

Shares of HESM opened at $35.34 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. The firm has a market cap of $8.00 billion, a PE ratio of 16.91 and a beta of 1.50. The company’s 50 day simple moving average is $34.96 and its 200-day simple moving average is $32.58. Hess Midstream LP has a 12-month low of $26.86 and a 12-month high of $36.84.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities analysts predict that Hess Midstream LP will post 2.54 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.6343 per share. The ex-dividend date was Wednesday, February 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.18%. Hess Midstream’s dividend payout ratio (DPR) is 121.53%.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several equities analysts have commented on HESM shares. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group increased their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

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.