ING Groep NV Invests $4.04 Million in Hess Midstream LP (NYSE:HESM)

ING Groep NV purchased a new stake in shares of Hess Midstream LP (NYSE:HESM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 109,000 shares of the company’s stock, valued at approximately $4,036,000. ING Groep NV owned about 0.05% of Hess Midstream at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kayne Anderson Capital Advisors LP increased its position in shares of Hess Midstream by 7.9% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after acquiring an additional 194,154 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Hess Midstream during the third quarter valued at approximately $44,088,000. Artemis Investment Management LLP increased its position in shares of 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 acquiring an additional 90,521 shares during the last quarter. Infrastructure Capital Advisors LLC increased its position in shares of Hess Midstream by 24.6% during the third quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company’s stock valued at $21,683,000 after acquiring an additional 121,342 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Hess Midstream by 34.7% during the fourth quarter. Jennison Associates LLC now owns 587,496 shares of the company’s stock valued at $21,755,000 after acquiring an additional 151,220 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $40.66 on Friday. The stock has a market cap of $8.86 billion, a PE ratio of 16.33 and a beta of 1.53. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $42.15. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $39.17 and a 200-day moving average of $37.12.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share 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%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a $0.7012 dividend. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.90%. Hess Midstream’s payout ratio is 112.45%.

Analyst Upgrades and Downgrades

HESM has been the subject of a number of research analyst reports. Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Finally, Citigroup raised their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hess Midstream has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.