Capstone Investment Advisors LLC Has $3.90 Million Holdings in Hess Midstream LP (NYSE:HESM)

Capstone Investment Advisors LLC raised its position in shares of Hess Midstream LP (NYSE:HESM) by 439.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 107,806 shares of the company’s stock after acquiring an additional 87,806 shares during the period. Capstone Investment Advisors LLC’s holdings in Hess Midstream were worth $3,895,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Hess Midstream during the 1st quarter worth about $30,000. 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 valued at $57,000 after purchasing an additional 1,159 shares in the last quarter. Parkside Financial Bank & Trust raised 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 worth $73,000 after purchasing an additional 1,805 shares during the last quarter. Lee Financial Co lifted its holdings in Hess Midstream by 198.2% during the 4th quarter. Lee Financial Co now owns 4,422 shares of the company’s stock worth $140,000 after buying an additional 2,939 shares in the last quarter. Finally, Wealth Alliance bought a new position in Hess Midstream in the 4th quarter valued at $207,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HESM. UBS Group boosted their target price on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.83.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 1,500,000 shares of Hess Midstream stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hess Midstream Trading Down 0.6 %

NYSE HESM traded down $0.21 during trading on Friday, reaching $37.05. 500,531 shares of the stock traded hands, compared to its average volume of 927,441. Hess Midstream LP has a fifty-two week low of $27.57 and a fifty-two week high of $37.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 8.67. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 16.77 and a beta of 1.52. The stock’s 50-day moving average price is $35.40 and its 200 day moving average price is $34.43.

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

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were issued a dividend of $0.6516 per share. This represents a $2.61 annualized dividend and a dividend yield of 7.03%. The ex-dividend date was Wednesday, May 1st. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s payout ratio is 118.10%.

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.