Westwood Holdings Group Inc. Cuts Holdings in Hess Midstream LP (NYSE:HESM)

Westwood Holdings Group Inc. cut its holdings in shares of Hess Midstream LP (NYSE:HESM) by 30.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,380,299 shares of the company’s stock after selling 594,382 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Hess Midstream were worth $51,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. HITE Hedge Asset Management LLC bought a new position in Hess Midstream during the fourth quarter valued at approximately $19,642,000. Deutsche Bank AG grew its stake in shares of Hess Midstream by 56.3% during the 4th quarter. Deutsche Bank AG now owns 1,405,510 shares of the company’s stock valued at $52,046,000 after purchasing an additional 506,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hess Midstream by 11.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock worth $185,560,000 after purchasing an additional 496,464 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Hess Midstream in the fourth quarter worth approximately $12,976,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in Hess Midstream during the fourth quarter valued at approximately $9,535,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Price Performance

NYSE:HESM opened at $38.88 on Monday. The business’s 50-day simple moving average is $39.07 and its two-hundred day simple moving average is $38.59. Hess Midstream LP has a 52 week low of $33.59 and a 52 week high of $44.05. The stock has a market cap of $8.48 billion, a PE ratio of 15.61 and a beta of 0.67. 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 (NYSE:HESM) last released its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm had revenue of $382.00 million during the quarter, compared to analysts’ expectations of $384.28 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream’s dividend payout ratio (DPR) is 110.98%.

Analysts Set New Price Targets

A number of brokerages have commented on HESM. JPMorgan Chase & Co. upped their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Raymond James raised their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of Hess Midstream from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

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.