Miller Howard Investments Inc. NY cut its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 846,720 shares of the company's stock after selling 235,394 shares during the period. Miller Howard Investments Inc. NY owned 0.39% of Hess Midstream worth $31,354,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Yaupon Capital Management LP acquired a new stake in shares of Hess Midstream during the third quarter worth about $44,088,000. Soros Fund Management LLC purchased a new stake in Hess Midstream during the 3rd quarter valued at approximately $14,108,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Hess Midstream during the 4th quarter worth approximately $8,786,000. Kayne Anderson Capital Advisors LP grew its stake in shares of Hess Midstream by 7.9% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company's stock valued at $93,131,000 after purchasing an additional 194,154 shares during the last quarter. Finally, Seven Grand Managers LLC acquired a new position in shares of Hess Midstream in the third quarter valued at approximately $6,349,000. 98.97% of the stock is owned by institutional investors and hedge funds.
Hess Midstream stock opened at $40.42 on Friday. The stock's 50 day moving average price is $38.45 and its 200 day moving average price is $36.89. The company has a market cap of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53. 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 1-year low of $32.15 and a 1-year high of $42.15.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.94%. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream's dividend payout ratio (DPR) is presently 112.45%.
Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. 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 report on Tuesday, January 28th.
Read Our Latest Stock Report on HESM
In related news, CFO Jonathan C. Stein sold 7,923 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. The trade was a 11.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Hess Midstream, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream wasn't on the list.
While Hess Midstream currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.