Kayne Anderson Capital Advisors LP Has $96.59 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Kayne Anderson Capital Advisors LP reduced its position in shares of Hess Midstream LP (NYSE:HESM) by 1.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,608,331 shares of the company’s stock after selling 32,183 shares during the quarter. Hess Midstream makes up 2.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 14th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Hess Midstream were worth $96,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its position in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after acquiring an additional 579 shares during the last quarter. US Bancorp DE boosted its stake in Hess Midstream by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after purchasing an additional 510 shares during the period. KBC Group NV increased its position in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Hess Midstream during the third quarter worth approximately $100,000. Finally, IFP Advisors Inc boosted its position in shares of Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after acquiring an additional 733 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HESM shares. Citigroup raised their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hess Midstream Trading Up 0.9 %

Shares of HESM opened at $40.69 on Wednesday. The stock’s fifty day simple moving average is $40.14 and its 200-day simple moving average is $37.51. The firm has a market capitalization of $8.87 billion, a PE ratio of 16.34 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $42.31. 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 (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is currently 112.45%.

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.