Newbridge Financial Services Group Inc. Takes $338,000 Position in Hess Midstream LP (NYSE:HESM)

Newbridge Financial Services Group Inc. acquired a new position in Hess Midstream LP (NYSE:HESM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,132 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. Yaupon Capital Management LP acquired a new position in shares of Hess Midstream in the 3rd quarter worth approximately $44,088,000. Soros Fund Management LLC acquired a new position in Hess Midstream during the third quarter worth $14,108,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Hess Midstream during the fourth quarter worth $8,786,000. Kayne Anderson Capital Advisors LP grew its stake in shares of Hess Midstream by 7.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after buying an additional 194,154 shares in the last quarter. Finally, Seven Grand Managers LLC purchased a new stake in shares of Hess Midstream in the 3rd quarter valued at $6,349,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

HESM has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Raymond James lifted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $40.42 on Monday. 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 company has a market cap of $8.81 billion, a price-to-earnings ratio of 16.23 and a beta of 1.53. The stock’s 50-day moving average is $38.45 and its two-hundred day moving average is $36.88. Hess Midstream LP has a 1-year low of $32.15 and a 1-year high of $42.15.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream’s payout ratio is 112.45%.

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.