CFM Wealth Partners LLC Sells 6,998 Shares of Hess Midstream LP (NYSE:HESM)

CFM Wealth Partners LLC trimmed its position in Hess Midstream LP (NYSE:HESM) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,262 shares of the company’s stock after selling 6,998 shares during the period. CFM Wealth Partners LLC’s holdings in Hess Midstream were worth $1,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HESM. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream in the first quarter worth about $30,000. Clear Point Advisors Inc. purchased a new position in shares of Hess Midstream during the 1st quarter valued at about $49,000. Geneos Wealth Management Inc. lifted its position in shares of Hess Midstream by 31.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after buying an additional 500 shares in the last quarter. Comerica Bank lifted its position in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after buying an additional 385 shares in the last quarter. Finally, South Street Advisors LLC purchased a new position in Hess Midstream in the 2nd quarter worth approximately $211,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hess Midstream Stock Performance

NYSE HESM opened at $35.85 on Wednesday. The company has a market cap of $8.01 billion, a P/E ratio of 16.22 and a beta of 1.51. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $36.12 and its 200-day moving average price is $36.00. Hess Midstream LP has a fifty-two week low of $29.20 and a fifty-two week high of $39.11.

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

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.67 annualized dividend and a dividend yield of 7.45%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is currently 120.81%.

Analysts Set New Price Targets

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

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.