Fractal Investments LLC Buys 185,800 Shares of Hess Midstream LP (NYSE:HESM)

Fractal Investments LLC grew its stake in Hess Midstream LP (NYSE:HESM) by 375.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,247 shares of the company’s stock after purchasing an additional 185,800 shares during the quarter. Hess Midstream comprises about 1.5% of Fractal Investments LLC’s holdings, making the stock its 16th biggest holding. Fractal Investments LLC’s holdings in Hess Midstream were worth $7,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in shares of Hess Midstream by 36.0% in the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock worth $341,660,000 after acquiring an additional 3,107,528 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hess Midstream by 38.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after acquiring an additional 887,859 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Hess Midstream by 172.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock worth $28,574,000 after acquiring an additional 620,779 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Hess Midstream by 171.9% in the 3rd quarter. TD Asset Management Inc now owns 803,257 shares of the company’s stock worth $23,399,000 after acquiring an additional 507,856 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Hess Midstream in the 4th quarter worth about $14,133,000. 92.41% of the stock is currently owned by institutional investors.

Hess Midstream Stock Performance

Shares of NYSE HESM traded up $0.26 during trading on Wednesday, reaching $35.59. 1,140,592 shares of the company traded hands, compared to its average volume of 897,880. The firm has a 50 day simple moving average of $35.13 and a 200-day simple moving average of $32.76. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81. The stock has a market capitalization of $8.05 billion, a PE ratio of 17.03 and a beta of 1.50. Hess Midstream LP has a 52-week low of $26.86 and a 52-week high of $36.84.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The company had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. Equities research analysts anticipate that Hess Midstream LP will post 2.54 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.6516 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Wednesday, May 1st. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio (DPR) is presently 121.53%.

Wall Street Analyst Weigh In

HESM has been the subject of several research reports. UBS Group increased their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Three 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Insider Activity

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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.