Entropy Technologies LP Grows Stake in Hess Midstream LP (NYSE:HESM)

Entropy Technologies LP increased its holdings in Hess Midstream LP (NYSE:HESM) by 33.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,691 shares of the company’s stock after buying an additional 7,150 shares during the period. Entropy Technologies LP’s holdings in Hess Midstream were worth $1,012,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HESM. Tompkins Financial Corp bought a new position in Hess Midstream in the 3rd quarter worth about $71,000. Lindbrook Capital LLC increased its position in shares of Hess Midstream by 50.4% in the third quarter. Lindbrook Capital LLC now owns 21,558 shares of the company’s stock worth $760,000 after purchasing an additional 7,223 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in Hess Midstream in the third quarter valued at approximately $322,000. Catalyst Capital Advisors LLC lifted its position in Hess Midstream by 15.7% during the third quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company’s stock valued at $6,851,000 after purchasing an additional 26,290 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in Hess Midstream in the 3rd quarter worth approximately $3,255,000. Institutional investors own 92.41% of the company’s stock.

Insider Activity

In other news, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at $2,117,257.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Infrastructure Investor Global sold 12,650,000 shares of the 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 disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

Hess Midstream Stock Performance

Shares of NYSE HESM opened at $34.19 on Thursday. The stock’s 50-day moving average is $35.61 and its 200 day moving average is $35.95. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 14.49 and a beta of 1.51. Hess Midstream LP has a 1-year low of $29.90 and a 1-year high of $39.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a yield of 8.01%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, November 7th. Hess Midstream’s dividend payout ratio is presently 115.68%.

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.