Empowered Funds LLC Has $3.01 Million Stake in Hess Midstream LP (NYSE:HESM)

Empowered Funds LLC boosted its holdings in Hess Midstream LP (NYSE:HESM) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,171 shares of the company’s stock after purchasing an additional 8,972 shares during the quarter. Empowered Funds LLC’s holdings in Hess Midstream were worth $3,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tompkins Financial Corp purchased a new stake in shares of Hess Midstream in the third quarter worth approximately $71,000. KBC Group NV grew its holdings in Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Hess Midstream during the 3rd quarter valued at $100,000. Icon Wealth Advisors LLC lifted its stake in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James increased their target price 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 increased their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th.

Insider Buying and Selling

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hess Midstream Stock Up 1.6 %

Hess Midstream stock opened at $39.53 on Friday. The firm has a 50 day moving average price of $38.65 and a 200-day moving average price of $36.96. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a twelve month low of $32.64 and a twelve month high of $42.15. The company has a market capitalization of $8.62 billion, a P/E ratio of 15.87 and a beta of 1.53.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This is a boost 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 7.10%. The ex-dividend date is Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 112.45%.

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.