180,000 Shares in Hess Midstream LP (NYSE:HESM) Acquired by Seven Grand Managers LLC

Seven Grand Managers LLC bought a new stake in shares of Hess Midstream LP (NYSE:HESM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 180,000 shares of the company’s stock, valued at approximately $6,349,000. Hess Midstream makes up about 1.4% of Seven Grand Managers LLC’s portfolio, making the stock its 23rd biggest position. Seven Grand Managers LLC owned approximately 0.08% of Hess Midstream at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Naples Global Advisors LLC boosted its position in Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock valued at $2,267,000 after purchasing an additional 300 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Hess Midstream by 4.8% in the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after buying an additional 323 shares in the last quarter. Granite Group Advisors LLC grew its position in shares of Hess Midstream by 5.6% in the 1st quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock worth $257,000 after buying an additional 375 shares during the last quarter. Comerica Bank raised its stake in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after acquiring an additional 385 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Hess Midstream by 31.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after acquiring an additional 500 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group upped their target price on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Hess Midstream Trading Up 0.4 %

Shares of Hess Midstream stock opened at $36.00 on Thursday. The firm’s 50 day simple moving average is $36.13 and its two-hundred day simple moving average is $36.00. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 16.29 and a beta of 1.51. Hess Midstream LP has a 12-month low of $29.20 and a 12-month high of $39.11. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $365.16 million. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. Analysts predict that Hess Midstream LP will post 2.36 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a dividend of $0.6677 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.42%. Hess Midstream’s payout ratio is 120.81%.

Insider Activity at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.