Hess Midstream LP (NYSE:HESM) Shares Sold by NBW Capital LLC

NBW Capital LLC cut its holdings in shares of Hess Midstream LP (NYSE:HESM) by 23.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 101,686 shares of the company’s stock after selling 31,592 shares during the period. NBW Capital LLC’s holdings in Hess Midstream were worth $3,216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Hess Midstream in the 3rd quarter valued at $32,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Hess Midstream in the 3rd quarter valued at $41,000. Great West Life Assurance Co. Can raised its holdings in shares of Hess Midstream by 83.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,762 shares of the company’s stock valued at $56,000 after purchasing an additional 804 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Hess Midstream in the 1st quarter valued at $53,000. Finally, IFP Advisors Inc raised its holdings in shares of Hess Midstream by 77.2% in the 2nd quarter. IFP Advisors Inc now owns 2,373 shares of the company’s stock valued at $73,000 after purchasing an additional 1,034 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Stock Performance

Hess Midstream stock traded down $0.06 during midday trading on Thursday, hitting $34.68. 157,490 shares of the company’s stock were exchanged, compared to its average volume of 890,063. Hess Midstream LP has a 12-month low of $26.86 and a 12-month high of $36.84. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 16.62 and a beta of 1.50. The firm’s 50 day simple moving average is $34.85 and its 200 day simple moving average is $32.51.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.05). The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Equities research analysts predict that Hess Midstream LP will post 2.55 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were paid a $0.6343 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.62. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 annualized dividend and a dividend yield of 7.32%. Hess Midstream’s dividend payout ratio (DPR) is 121.53%.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group increased their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

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.