Goldman Sachs Group Inc. Acquires 72,548 Shares of Hess Midstream LP (NYSE:HESM)

Goldman Sachs Group Inc. boosted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,431,870 shares of the company’s stock after buying an additional 72,548 shares during the period. Goldman Sachs Group Inc. owned approximately 1.49% of Hess Midstream worth $108,550,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HESM. DekaBank Deutsche Girozentrale purchased a new stake in Hess Midstream during the third quarter valued at about $41,000. First Horizon Advisors Inc. increased its holdings in shares of Hess Midstream by 183.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after buying an additional 1,159 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Hess Midstream by 348.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock worth $73,000 after buying an additional 1,805 shares during the period. Lee Financial Co increased its holdings in shares of Hess Midstream by 198.2% in the fourth quarter. Lee Financial Co now owns 4,422 shares of the company’s stock worth $140,000 after buying an additional 2,939 shares during the period. Finally, Wealth Alliance purchased a new position in shares of Hess Midstream in the fourth quarter worth about $207,000. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Down 0.5 %

NYSE:HESM traded down $0.18 during mid-day trading on Friday, reaching $35.23. 972,398 shares of the company’s stock traded hands, compared to its average volume of 1,039,399. Hess Midstream LP has a 12-month low of $27.57 and a 12-month high of $36.84. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.94 and a beta of 1.49. The company has a debt-to-equity ratio of 8.67, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day moving average price of $35.05 and a 200-day moving average price of $33.94.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $355.60 million for the quarter, compared to analysts’ expectations of $354.98 million. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. On average, sell-side analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.6516 per share. This represents a $2.61 annualized dividend and a yield of 7.40%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, May 1st. Hess Midstream’s payout ratio is presently 118.10%.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 10,000,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $34.02, for a total value of $340,200,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several research analysts have recently commented on HESM shares. Wells Fargo & Company lifted their price objective on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. UBS Group lifted their price objective on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $37.00 to $38.00 and gave the stock 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

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.