Exchange Traded Concepts LLC grew its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,185 shares of the company's stock after purchasing an additional 15,951 shares during the period. Exchange Traded Concepts LLC owned approximately 0.05% of Hess Midstream worth $4,309,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. A. D. Beadell Investment Counsel Inc. purchased a new position in Hess Midstream during the third quarter worth about $839,000. Artemis Investment Management LLP grew its holdings in shares of Hess Midstream by 16.9% during the third quarter. Artemis Investment Management LLP now owns 760,682 shares of the company's stock worth $26,829,000 after purchasing an additional 109,916 shares in the last quarter. Kesler Norman & Wride LLC purchased a new stake in Hess Midstream in the third quarter valued at approximately $511,000. SG Americas Securities LLC lifted its position in Hess Midstream by 15.2% during the third quarter. SG Americas Securities LLC now owns 202,618 shares of the company's stock valued at $7,146,000 after purchasing an additional 26,725 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hess Midstream in the 2nd quarter worth approximately $1,691,000. Institutional investors own 92.41% of the company's stock.
In related news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Several research firms have recently weighed in on HESM. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. UBS Group lifted their price target on Hess Midstream from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd.
View Our Latest Stock Report on HESM
Shares of Hess Midstream stock opened at $36.16 on Monday. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. Hess Midstream LP has a 52-week low of $29.20 and a 52-week high of $39.11. The company has a fifty day moving average of $36.11 and a 200-day moving average of $36.00. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.36 and a beta of 1.51.
Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The firm had revenue of $365.50 million for the quarter, compared to analysts' expectations of $365.16 million. During the same period last year, the firm earned $0.50 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts expect that Hess Midstream LP will post 2.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $0.6677 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a yield of 7.39%. This is an increase from Hess Midstream's previous quarterly dividend of $0.65. Hess Midstream's payout ratio is presently 120.81%.
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.
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