Fullcircle Wealth LLC Invests $263,000 in Hess Midstream LP (NYSE:HESM)

Fullcircle Wealth LLC bought a new stake in shares of Hess Midstream LP (NYSE:HESM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,000 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Hess Midstream in the first quarter worth approximately $30,000. Clear Point Advisors Inc. acquired a new position in shares of Hess Midstream in the 1st quarter worth $49,000. First Horizon Advisors Inc. raised its position in shares of Hess Midstream by 183.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock worth $57,000 after purchasing an additional 1,159 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Hess Midstream by 348.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Hess Midstream by 31.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Stock Up 1.3 %

NYSE HESM traded up $0.49 during trading on Friday, reaching $37.10. 405,258 shares of the company’s stock were exchanged, compared to its average volume of 913,490. The company’s fifty day simple moving average is $36.83 and its 200-day simple moving average is $35.57. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 8.67. The firm has a market capitalization of $8.29 billion, a PE ratio of 16.79 and a beta of 1.52. Hess Midstream LP has a fifty-two week low of $27.57 and a fifty-two week high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 42.07%. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $365.16 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts predict that Hess Midstream LP will post 2.26 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a $0.6677 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.20%. Hess Midstream’s dividend payout ratio is 120.81%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their price objective on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hess Midstream has an average rating of “Moderate Buy” and an average price target of $37.20.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 1,500,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $34.02, for a total value of $51,030,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.