NBW Capital LLC Sells 31,592 Shares of Hess Midstream LP (NYSE:HESM)

NBW Capital LLC reduced its stake in Hess Midstream LP (NYSE:HESM) by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,686 shares of the company’s stock after selling 31,592 shares during the quarter. NBW Capital LLC’s holdings in Hess Midstream were worth $3,216,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Alps Advisors Inc. raised its holdings in 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 purchasing an additional 3,107,528 shares during the period. Invesco Ltd. increased its stake in Hess Midstream by 9.4% in the 3rd quarter. Invesco Ltd. now owns 3,576,608 shares of the company’s stock worth $104,187,000 after buying an additional 305,972 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 buying an additional 887,859 shares in the last quarter. Clearbridge Investments LLC increased its stake in Hess Midstream by 10.6% in the 3rd quarter. Clearbridge Investments LLC now owns 2,623,885 shares of the company’s stock worth $76,434,000 after buying an additional 251,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Hess Midstream by 50.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,966,157 shares of the company’s stock worth $58,985,000 after buying an additional 659,514 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

Hess Midstream Price Performance

Shares of Hess Midstream stock traded down $0.06 during trading on Thursday, reaching $34.68. 157,490 shares of the stock traded hands, compared to its average volume of 890,063. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 16.62 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. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The business has a fifty day simple moving average of $34.85 and a two-hundred day simple moving average of $32.51.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. Sell-side analysts expect that Hess Midstream LP will post 2.55 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were given a $0.6343 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.54 annualized dividend and a yield of 7.32%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio (DPR) is currently 121.53%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HESM shares. UBS Group increased their price target on 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. increased their price target on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.67.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of Hess Midstream stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

About Hess Midstream

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.