First Horizon Advisors Inc. Grows Holdings in Hess Midstream LP (NYSE:HESM)

First Horizon Advisors Inc. lifted its holdings in shares of Hess Midstream LP (NYSE:HESM) by 183.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,791 shares of the company’s stock after acquiring an additional 1,159 shares during the period. First Horizon Advisors Inc.’s holdings in Hess Midstream were worth $57,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its position in Hess Midstream by 0.3% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 182,058 shares of the company’s stock worth $5,303,000 after acquiring an additional 631 shares in the last quarter. American Financial Group Inc. increased its stake in Hess Midstream by 5.0% during the third quarter. American Financial Group Inc. now owns 21,000 shares of the company’s stock valued at $612,000 after purchasing an additional 1,000 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Hess Midstream during the third quarter worth about $41,000. Institutional & Family Asset Management LLC lifted its holdings in shares of Hess Midstream by 17.9% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 9,586 shares of the company’s stock worth $279,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Hess Midstream by 348.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after buying an additional 1,805 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Trading Up 0.1 %

NYSE:HESM opened at $34.76 on Wednesday. The stock has a market cap of $7.87 billion, a PE ratio of 15.73 and a beta of 1.51. Hess Midstream LP has a fifty-two week low of $26.86 and a fifty-two week high of $36.84. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50-day moving average is $35.22 and its two-hundred day moving average is $33.05.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, May 2nd will be paid a $0.6516 dividend. This represents a $2.61 annualized dividend and a yield of 7.50%. The ex-dividend date is Wednesday, May 1st. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio is currently 118.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HESM. Wells Fargo & Company boosted their price objective on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. 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 research report on Tuesday, April 16th. Finally, UBS Group lifted their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Insider Transactions at Hess Midstream

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total transaction of $377,545,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.