41,600 Shares in Hess Midstream LP (NYSE:HESM) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Hess Midstream LP (NYSE:HESM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,600 shares of the company’s stock, valued at approximately $1,540,000.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after acquiring an additional 134,171 shares in the last quarter. Stifel Financial Corp lifted its stake in Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock worth $405,000 after purchasing an additional 3,148 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Hess Midstream by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock valued at $879,000 after purchasing an additional 10,175 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hess Midstream by 9.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company’s stock worth $7,093,000 after buying an additional 17,261 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Stock Performance

Shares of HESM stock opened at $42.51 on Friday. The stock has a market capitalization of $9.27 billion, a PE ratio of 17.07 and a beta of 1.48. The business’s 50 day simple moving average is $41.16 and its 200 day simple moving average is $38.04. 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 LP has a one year low of $32.75 and a one year high of $44.05.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates 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 forecast 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. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.60%. Hess Midstream’s dividend payout ratio is presently 112.45%.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

HESM has been the topic of several research analyst reports. Citigroup raised their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report 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 stock an “outperform” rating in a research report 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.