Miller Howard Investments Inc. NY Trims Stock Holdings in Hess Midstream LP (NYSE:HESM)

Miller Howard Investments Inc. NY lessened its stake in shares of Hess Midstream LP (NYSE:HESM) by 21.8% in the fourth quarter, HoldingsChannel reports. The firm owned 846,720 shares of the company’s stock after selling 235,394 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Hess Midstream were worth $31,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HESM. Tompkins Financial Corp acquired a new stake in shares of Hess Midstream during the 3rd quarter worth about $71,000. KBC Group NV boosted its position in Hess Midstream by 83.9% during 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 during the last quarter. Millburn Ridgefield Corp purchased a new stake in Hess Midstream in the 3rd quarter worth approximately $100,000. Icon Wealth Advisors LLC raised its holdings in Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HESM. Raymond James lifted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th.

Insiders Place Their Bets

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

Hess Midstream Stock Down 0.1 %

Shares of NYSE HESM opened at $40.42 on Friday. 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 stock has a market capitalization of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53. The firm has a fifty day moving average of $38.45 and a 200-day moving average of $36.89. Hess Midstream LP has a 52-week low of $32.15 and a 52-week high of $42.15.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.94%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream’s payout ratio is 112.45%.

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.