First Horizon Advisors Inc. Raises Position in Hess Midstream LP (NYSE:HESM)

First Horizon Advisors Inc. raised its stake in Hess Midstream LP (NYSE:HESM) by 183.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,791 shares of the company’s stock after purchasing an additional 1,159 shares during the quarter. First Horizon Advisors Inc.’s holdings in Hess Midstream were worth $57,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in Hess Midstream in the 3rd quarter worth $41,000. Parkside Financial Bank & Trust lifted its position in Hess Midstream by 348.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after acquiring an additional 1,805 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Hess Midstream during the third quarter valued at $204,000. Wealth Alliance purchased a new stake in shares of Hess Midstream during the 4th quarter valued at about $207,000. Finally, Tranquility Partners LLC purchased a new stake in Hess Midstream in the third quarter worth approximately $210,000. 92.41% of the stock is currently owned by institutional investors.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HESM. UBS Group raised their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Wells Fargo & Company upped their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Hess Midstream Trading Up 0.1 %

Shares of HESM stock opened at $34.76 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. Hess Midstream LP has a 12-month low of $26.86 and a 12-month high of $36.84. The stock’s 50-day moving average price is $35.22 and its 200-day moving average price is $33.05. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 15.73 and a beta of 1.51.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Thursday, May 2nd will be issued a $0.6516 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.50%. Hess Midstream’s dividend payout ratio (DPR) is 118.10%.

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.