Granite Group Advisors LLC Decreases Stock Holdings in Hess Midstream LP (NYSE:HESM)

Granite Group Advisors LLC lessened its stake in shares of Hess Midstream LP (NYSE:HESM) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,731 shares of the company’s stock after selling 375 shares during the quarter. Granite Group Advisors LLC’s holdings in Hess Midstream were worth $249,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HESM. Nordea Investment Management AB boosted its position in Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after purchasing an additional 134,171 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hess Midstream by 51.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock worth $13,370,000 after buying an additional 128,009 shares during the last quarter. Stifel Financial Corp grew its position in Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after buying an additional 3,148 shares during the period. Raymond James & Associates grew its position in Hess Midstream by 230.7% during the third quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock valued at $4,214,000 after buying an additional 83,358 shares during the period. Finally, Artemis Investment Management LLP increased its holdings in Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after buying an additional 90,521 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hess Midstream Trading Up 1.3 %

Shares of Hess Midstream stock opened at $41.38 on Monday. Hess Midstream LP has a 1-year low of $32.15 and a 1-year high of $41.61. The company’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $36.69. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $9.02 billion, a PE ratio of 17.53 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. Hess Midstream’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, equities analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current year.

Hess Midstream 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.