Infrastructure Capital Advisors LLC Grows Position in Hess Midstream LP (NYSE:HESM)

Infrastructure Capital Advisors LLC boosted its stake in shares of Hess Midstream LP (NYSE:HESM) by 20.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,668 shares of the company’s stock after purchasing an additional 2,146 shares during the period. Infrastructure Capital Advisors LLC owned about 0.05% of Hess Midstream worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. Tortoise Capital Advisors L.L.C. lifted its position in shares of Hess Midstream by 4,903.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 661,458 shares of the company’s stock valued at $14,830,000 after acquiring an additional 648,239 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Hess Midstream by 108.5% during the first quarter. Allianz Asset Management GmbH now owns 1,156,315 shares of the company’s stock worth $25,925,000 after acquiring an additional 601,762 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Hess Midstream during the first quarter worth approximately $10,672,000. Cushing Asset Management LP increased its stake in Hess Midstream by 66.6% during the first quarter. Cushing Asset Management LP now owns 1,123,211 shares of the company’s stock worth $25,182,000 after acquiring an additional 449,003 shares during the last quarter. Finally, Caas Capital Management LP bought a new stake in Hess Midstream during the first quarter worth approximately $7,621,000. Institutional investors own 72.92% of the company’s stock.

In other Hess Midstream news, Director Corp Hess sold 4,312,500 shares of the firm’s stock in a transaction that occurred on Friday, October 8th. The shares were sold at an average price of $25.12, for a total value of $108,330,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

HESM has been the topic of several analyst reports. Zacks Investment Research cut Hess Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 30th. UBS Group cut Hess Midstream from a “buy” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Friday, October 1st. Morgan Stanley upped their target price on Hess Midstream from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 26th. Citigroup cut Hess Midstream from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Finally, Wells Fargo & Company boosted their price target on Hess Midstream from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Hess Midstream has a consensus rating of “Buy” and a consensus price target of $27.89.

Shares of HESM traded up $0.36 during midday trading on Thursday, hitting $26.78. 16,833 shares of the company’s stock traded hands, compared to its average volume of 540,462. The firm’s fifty day moving average is $26.10 and its 200-day moving average is $24.84. Hess Midstream LP has a 1 year low of $15.70 and a 1 year high of $30.34. The stock has a market capitalization of $670.57 million, a price-to-earnings ratio of 17.35 and a beta of 2.13.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, July 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The firm had revenue of $294.80 million during the quarter. As a group, research analysts expect that Hess Midstream LP will post 1.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Monday, August 9th were paid a $0.504 dividend. The ex-dividend date of this dividend was Friday, August 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.45. This represents a $2.02 dividend on an annualized basis and a yield of 7.53%. Hess Midstream’s dividend payout ratio (DPR) is currently 154.20%.

About Hess Midstream

Hess Midstream LP engages in the ownership, development and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression.

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Institutional Ownership by Quarter for Hess Midstream (NYSE:HESM)

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