Algert Global LLC Acquires 110,050 Shares of Hess Midstream LP (NYSE:HESM)

Algert Global LLC increased its holdings in Hess Midstream LP (NYSE:HESM) by 1,215.4% during the third quarter, HoldingsChannel reports. The fund owned 119,105 shares of the company’s stock after acquiring an additional 110,050 shares during the quarter. Algert Global LLC’s holdings in Hess Midstream were worth $4,201,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Naples Global Advisors LLC grew its holdings in Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after buying an additional 300 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Hess Midstream by 5.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after acquiring an additional 300 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Hess Midstream by 4.8% in the second quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock valued at $258,000 after purchasing an additional 323 shares during the last quarter. Granite Group Advisors LLC lifted its position in shares of Hess Midstream by 5.6% during the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Trading Down 0.1 %

NYSE HESM opened at $36.78 on Monday. The business’s fifty day moving average is $35.62 and its 200-day moving average is $36.04. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 15.58 and a beta of 1.51. Hess Midstream LP has a one year low of $30.08 and a one year high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities research analysts predict that Hess Midstream LP will post 2.45 EPS for the current 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 paid a $0.6846 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 annualized dividend and a yield of 7.45%. Hess Midstream’s dividend payout ratio is presently 116.10%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st.

Insiders Place Their Bets

In related news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

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.