MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Hess Midstream LP (NYSE:HESM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hess Midstream LP (NYSE:HESM) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,011,069 shares of the company’s stock after buying an additional 496,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.30% of Hess Midstream worth $185,560,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Hess Midstream by 1.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company’s stock worth $280,728,000 after acquiring an additional 83,943 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company’s stock valued at $151,490,000 after buying an additional 191,175 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Hess Midstream by 5.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company’s stock valued at $122,553,000 after buying an additional 165,933 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Hess Midstream by 11.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company’s stock valued at $64,872,000 after purchasing an additional 184,290 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Hess Midstream by 56.3% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Trading Down 0.2%

NYSE HESM opened at $37.01 on Monday. The stock’s 50-day simple moving average is $39.22 and its two-hundred day simple moving average is $38.46. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 14.86 and a beta of 0.67.

Hess Midstream (NYSE:HESM) last issued 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. The business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Hess Midstream’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be paid a $0.7098 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.84 annualized dividend and a yield of 7.67%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.70. Hess Midstream’s dividend payout ratio is currently 110.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HESM shares. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Raymond James boosted their price target on shares of 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 reduced 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. Finally, Citigroup raised their price target on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is available at the SEC website.

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.