Westover Capital Advisors LLC Acquires 3,695 Shares of Hess Midstream LP (NYSE:HESM)

Westover Capital Advisors LLC increased its holdings in shares of Hess Midstream LP (NYSE:HESM) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,513 shares of the company’s stock after acquiring an additional 3,695 shares during the quarter. Westover Capital Advisors LLC’s holdings in Hess Midstream were worth $3,055,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Kayne Anderson Capital Advisors LP lifted its holdings in Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after acquiring an additional 194,154 shares during the period. Yaupon Capital Management LP purchased a new stake in Hess Midstream in the third quarter worth $44,088,000. Artemis Investment Management LLP increased its position in Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock worth $31,520,000 after buying an additional 90,521 shares during the last quarter. Infrastructure Capital Advisors LLC increased its position in Hess Midstream by 24.6% in the third quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company’s stock worth $21,683,000 after buying an additional 121,342 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Hess Midstream by 34.7% in the fourth quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock worth $21,755,000 after buying an additional 151,220 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Hess Midstream Price Performance

Shares of NYSE HESM opened at $41.07 on Tuesday. The stock has a market cap of $8.95 billion, a PE ratio of 16.49 and a beta of 1.53. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $42.31. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $39.73 and a 200-day moving average of $37.35.

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

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a yield of 6.83%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s payout ratio is presently 112.45%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HESM. Citigroup raised their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.