Y Intercept Hong Kong Ltd Purchases 18,615 Shares of Hess Midstream LP (NYSE:HESM)

Y Intercept Hong Kong Ltd boosted its position in shares of Hess Midstream LP (NYSE:HESM) by 115.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,791 shares of the company’s stock after buying an additional 18,615 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Hess Midstream were worth $1,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of HESM. Creative Planning boosted its stake in Hess Midstream by 32.6% during the third quarter. Creative Planning now owns 7,390 shares of the company’s stock worth $261,000 after buying an additional 1,815 shares during the period. Raymond James & Associates boosted its stake in Hess Midstream by 230.7% during the third quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock worth $4,214,000 after buying an additional 83,358 shares during the period. Stephens Inc. AR purchased a new position in Hess Midstream during the third quarter worth $3,255,000. Catalyst Capital Advisors LLC boosted its stake in Hess Midstream by 15.7% during the third quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company’s stock worth $6,851,000 after buying an additional 26,290 shares during the period. Finally, Avidian Wealth Enterprises LLC purchased a new position in Hess Midstream during the third quarter worth $322,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HESM shares. Wells Fargo & Company boosted their target price 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. Citigroup boosted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Raymond James boosted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Hess Midstream presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Performance

HESM stock opened at $40.53 on Thursday. 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 business has a 50-day moving average price of $39.43 and a 200 day moving average price of $37.22. The company has a market capitalization of $8.84 billion, a P/E ratio of 16.28 and a beta of 1.53. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $42.15.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s payout ratio is presently 112.45%.

Insider Activity at Hess Midstream

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

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.