Financial Sense Advisors Inc. Purchases 84,085 Shares of Hess Midstream LP (NYSE:HESM)

Financial Sense Advisors Inc. raised its holdings in Hess Midstream LP (NYSE:HESM) by 150.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,801 shares of the company’s stock after buying an additional 84,085 shares during the quarter. Hess Midstream accounts for approximately 1.7% of Financial Sense Advisors Inc.’s holdings, making the stock its 11th biggest holding. Financial Sense Advisors Inc.’s holdings in Hess Midstream were worth $5,177,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HESM. Tompkins Financial Corp bought a new position in shares of Hess Midstream during the 3rd quarter worth approximately $71,000. KBC Group NV grew its position in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares during the period. Millburn Ridgefield Corp acquired a new position in Hess Midstream during the third quarter worth $100,000. Icon Wealth Advisors LLC lifted its holdings in shares of Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after purchasing an additional 2,793 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analyst Ratings Changes

HESM has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Up 0.5 %

Shares of NYSE:HESM opened at $41.19 on Thursday. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $42.15. The firm has a market cap of $8.98 billion, a P/E ratio of 16.54 and a beta of 1.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company’s 50-day moving average price is $38.98 and its two-hundred day moving average price is $37.05.

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

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.81%. Hess Midstream’s dividend payout ratio is presently 112.45%.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Hess Midstream

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.