Hess Midstream LP (NYSE:HESM) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC grew its holdings in Hess Midstream LP (NYSE:HESM) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,139 shares of the company’s stock after buying an additional 660 shares during the quarter. Curi RMB Capital LLC’s holdings in Hess Midstream were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. KBC Group NV raised its position in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Hess Midstream by 9.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,559 shares of the company’s stock valued at $408,000 after purchasing an additional 1,032 shares in the last quarter. Entropy Technologies LP lifted its stake in shares of Hess Midstream by 33.2% in the third quarter. Entropy Technologies LP now owns 28,691 shares of the company’s stock valued at $1,012,000 after purchasing an additional 7,150 shares during the period. Tompkins Financial Corp purchased a new stake in Hess Midstream during the third quarter worth about $71,000. Finally, Lindbrook Capital LLC grew its position in Hess Midstream by 50.4% during the third quarter. Lindbrook Capital LLC now owns 21,558 shares of the company’s stock worth $760,000 after buying an additional 7,223 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st.

Hess Midstream Trading Up 0.4 %

Shares of HESM stock opened at $35.34 on Friday. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The business has a fifty day simple moving average of $35.58 and a 200-day simple moving average of $35.96. The stock has a market cap of $7.80 billion, a P/E ratio of 14.97 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $376.98 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Hess Midstream LP will post 2.45 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.6846 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a dividend yield of 7.75%. The ex-dividend date was Thursday, November 7th. Hess Midstream’s payout ratio is currently 116.10%.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The disclosure for this sale can be found here.

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.