Plato Investment Management Ltd Acquires New Stake in Hess Midstream LP (NYSE:HESM)

Plato Investment Management Ltd bought a new position in shares of Hess Midstream LP (NYSE:HESM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,865 shares of the company’s stock, valued at approximately $292,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Hess Midstream by 32.6% during the third quarter. Creative Planning now owns 7,390 shares of the company’s stock worth $261,000 after purchasing an additional 1,815 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in Hess Midstream by 15.7% during the third quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company’s stock valued at $6,851,000 after purchasing an additional 26,290 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in Hess Midstream in the 3rd quarter worth approximately $322,000. Lindbrook Capital LLC increased its holdings in shares of Hess Midstream by 50.4% in the 3rd quarter. Lindbrook Capital LLC now owns 21,558 shares of the company’s stock worth $760,000 after buying an additional 7,223 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Hess Midstream during the 3rd quarter valued at $71,000. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Price Performance

HESM stock opened at $40.60 on Wednesday. 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 firm has a market cap of $8.85 billion, a P/E ratio of 16.30 and a beta of 1.48. The firm’s fifty day moving average is $39.80 and its 200 day moving average is $37.38. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $42.31.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s payout ratio is 112.45%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HESM shares. Wells Fargo & Company upped their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James upped their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Citigroup increased their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Hess Midstream currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a legal 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.