Castellan Group Sells 8,589 Shares of Hess Midstream LP (NYSE:HESM)

Castellan Group trimmed its holdings in Hess Midstream LP (NYSE:HESM) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 98,110 shares of the company’s stock after selling 8,589 shares during the quarter. Hess Midstream accounts for about 1.6% of Castellan Group’s holdings, making the stock its 23rd biggest holding. Castellan Group’s holdings in Hess Midstream were worth $3,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. apricus wealth LLC lifted its holdings in shares of Hess Midstream by 1.4% in the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock worth $685,000 after acquiring an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC lifted its holdings in shares of Hess Midstream by 2.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock worth $483,000 after acquiring an additional 286 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Hess Midstream by 5.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after acquiring an additional 300 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after acquiring an additional 329 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Hess Midstream by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,758 shares of the company’s stock valued at $469,000 after buying an additional 561 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Raymond James upped their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company upped their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th.

Hess Midstream Stock Down 1.4 %

Shares of Hess Midstream stock opened at $38.83 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company’s fifty day simple moving average is $38.60 and its two-hundred day simple moving average is $36.94. The company has a market cap of $8.46 billion, a P/E ratio of 15.59 and a beta of 1.53. Hess Midstream LP has a 12-month low of $32.36 and a 12-month high of $42.15.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be given a $0.7012 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.22%. Hess Midstream’s dividend payout ratio is currently 112.45%.

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.