MML Investors Services LLC Has $2.69 Million Stock Position in Hess Midstream LP (NYSE:HESM)

MML Investors Services LLC boosted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 31.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,264 shares of the company’s stock after acquiring an additional 18,158 shares during the quarter. MML Investors Services LLC’s holdings in Hess Midstream were worth $2,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HESM. Comerica Bank boosted its holdings in shares of 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 period. Fullcircle Wealth LLC acquired a new stake in shares of Hess Midstream during the 2nd quarter valued at $263,000. Catalyst Capital Advisors LLC grew its holdings in shares of Hess Midstream by 2.3% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 167,941 shares of the company’s stock valued at $6,120,000 after acquiring an additional 3,744 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Hess Midstream by 15.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 88,295 shares of the company’s stock worth $3,217,000 after acquiring an additional 11,788 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Hess Midstream by 5.4% during the second quarter. Miller Howard Investments Inc. NY now owns 722,159 shares of the company’s stock worth $26,315,000 after acquiring an additional 36,826 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insider Transactions at Hess Midstream

In other Hess Midstream news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

Hess Midstream Price Performance

Shares of HESM opened at $36.70 on Monday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $8.00 billion, a PE ratio of 15.55 and a beta of 1.53. The firm’s 50 day moving average price is $35.91 and its 200 day moving average price is $36.19. Hess Midstream LP has a twelve month low of $30.72 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. Hess Midstream’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, research analysts expect that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.46%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s payout ratio is currently 116.10%.

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.