Hess Midstream LP (NYSE:HESM) Stake Increased by Artemis Investment Management LLP

Artemis Investment Management LLP lifted its holdings in Hess Midstream LP (NYSE:HESM) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 851,203 shares of the company’s stock after buying an additional 90,521 shares during the period. Artemis Investment Management LLP’s holdings in Hess Midstream were worth $31,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Yaupon Capital Management LP acquired a new stake in Hess Midstream during the 3rd quarter worth about $44,088,000. Westwood Holdings Group Inc. lifted its position in shares of Hess Midstream by 126.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock worth $70,567,000 after purchasing an additional 1,082,840 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Hess Midstream by 23.5% during the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock worth $107,619,000 after purchasing an additional 562,688 shares during the period. Soros Fund Management LLC purchased a new position in Hess Midstream during the third quarter valued at approximately $14,108,000. Finally, Kayne Anderson Capital Advisors LP grew its position in Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hess Midstream Stock Up 2.2 %

HESM stock opened at $41.20 on Friday. The company has a 50 day moving average of $37.01 and a two-hundred day moving average of $36.56. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $32.03 and a 12-month high of $41.37. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 17.46 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same period last year, the company earned $0.57 earnings per share. Hess Midstream’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 6.65%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is currently 116.10%.

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.