Aigen Investment Management LP Invests $620,000 in Hess Midstream LP (NYSE:HESM)

Aigen Investment Management LP bought a new position in shares of Hess Midstream LP (NYSE:HESM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,594 shares of the company’s stock, valued at approximately $620,000.

Several other large investors also recently made changes to their positions in the stock. Alps Advisors Inc. boosted its holdings in Hess Midstream by 36.0% during the third quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after purchasing an additional 3,107,528 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hess Midstream by 38.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after acquiring an additional 887,859 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Hess Midstream by 172.4% during the 3rd quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock worth $28,574,000 after purchasing an additional 620,779 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Hess Midstream during the 4th quarter worth approximately $14,133,000. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Hess Midstream by 63.4% during the third quarter. Kayne Anderson Capital Advisors LP now owns 837,960 shares of the company’s stock worth $24,410,000 after buying an additional 325,100 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Analysts Set New Price Targets

HESM has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. UBS Group boosted their price target on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company boosted their target price on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Hess Midstream Trading Up 0.1 %

Shares of HESM stock opened at $35.54 on Thursday. The stock has a 50 day simple moving average of $35.31 and a two-hundred day simple moving average of $33.44. The company has a market cap of $7.94 billion, a P/E ratio of 16.07 and a beta of 1.51. The company has a debt-to-equity ratio of 8.67, a quick ratio of 0.89 and a current ratio of 0.89. Hess Midstream LP has a fifty-two week low of $26.86 and a fifty-two week high of $36.84.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $355.60 million for the quarter, compared to analysts’ expectations of $354.98 million. Hess Midstream had a return on equity of 35.08% and a net margin of 10.18%. Research analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd were given a dividend of $0.6516 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend was Wednesday, May 1st. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio is currently 118.10%.

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.