Baldwin Wealth Partners LLC MA Acquires Shares of 6,000 Hess Midstream LP (NYSE:HESM)

Baldwin Wealth Partners LLC MA acquired a new stake in shares of Hess Midstream LP (NYSE:HESM) in the first quarter, HoldingsChannel.com reports. The fund acquired 6,000 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors have also added to or reduced their stakes in HESM. Zimmer Partners LP purchased a new stake in Hess Midstream during the 4th quarter valued at approximately $23,415,000. HITE Hedge Asset Management LLC purchased a new stake in Hess Midstream during the 4th quarter valued at approximately $19,642,000. Deutsche Bank AG grew its holdings in 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 buying an additional 506,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hess Midstream by 11.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock valued at $185,560,000 after buying an additional 496,464 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Hess Midstream during the 4th quarter valued at approximately $12,976,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HESM. JPMorgan Chase & Co. increased their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Citigroup increased their target price on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their target price on 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Stock Down 0.5%

NYSE HESM opened at $38.79 on Tuesday. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $8.36 billion, a P/E ratio of 15.58 and a beta of 0.63. Hess Midstream LP has a one year low of $33.59 and a one year high of $44.05. The stock has a 50 day moving average price of $37.64 and a 200-day moving average price of $38.89.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate 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 was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. As a group, equities analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 7.32%. Hess Midstream’s dividend payout ratio (DPR) is currently 110.98%.

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.