Venturi Wealth Management LLC Grows Holdings in Hess Midstream LP (NYSE:HESM)

Venturi Wealth Management LLC grew its stake in Hess Midstream LP (NYSE:HESM) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,506 shares of the company’s stock after acquiring an additional 1,472 shares during the period. Venturi Wealth Management LLC’s holdings in Hess Midstream were worth $611,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after purchasing an additional 134,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hess Midstream by 51.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock valued at $13,370,000 after buying an additional 128,009 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Hess Midstream by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after buying an additional 3,148 shares in the last quarter. Raymond James & Associates raised its position in Hess Midstream by 230.7% in the 3rd quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after purchasing an additional 83,358 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after purchasing an additional 90,521 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hess Midstream Price Performance

Hess Midstream stock opened at $41.19 on Thursday. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $42.15. The stock has a market capitalization of $8.98 billion, a P/E ratio of 16.54 and a beta of 1.53. The firm’s 50-day moving average is $38.98 and its two-hundred day moving average is $37.05. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 112.45%.

Wall Street Analyst Weigh In

Several analysts recently commented on HESM shares. Raymond James upped their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup increased their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

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.