Dynamic Technology Lab Private Ltd Purchases 9,061 Shares of Hess Midstream LP (NYSE:HESM)

Dynamic Technology Lab Private Ltd raised its position in shares of Hess Midstream LP (NYSE:HESM) by 25.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,029 shares of the company’s stock after acquiring an additional 9,061 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Hess Midstream were worth $1,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HESM. ProShare Advisors LLC grew its position in Hess Midstream by 5.2% in the 1st quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock valued at $244,000 after purchasing an additional 332 shares during the period. Vanguard Group Inc. increased its position in Hess Midstream by 13.6% in the first quarter. Vanguard Group Inc. now owns 456,607 shares of the company’s stock worth $16,497,000 after buying an additional 54,769 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Hess Midstream by 15.2% in the first quarter. Lazard Asset Management LLC now owns 13,771 shares of the company’s stock valued at $497,000 after buying an additional 1,814 shares during the period. California State Teachers Retirement System lifted its position in shares of Hess Midstream by 15.7% during the 1st quarter. California State Teachers Retirement System now owns 70,481 shares of the company’s stock valued at $2,546,000 after buying an additional 9,577 shares during the last quarter. Finally, Clear Point Advisors Inc. bought a new position in shares of Hess Midstream during the 1st quarter worth $49,000. Institutional investors own 92.41% of the company’s stock.

Insider Transactions at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Hess Midstream Price Performance

Shares of NYSE HESM opened at $36.62 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. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The stock has a market cap of $7.98 billion, a PE ratio of 15.52 and a beta of 1.51. The stock has a fifty day moving average of $35.61 and a 200-day moving average of $36.05.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.6846 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend was Thursday, November 7th. Hess Midstream’s payout ratio is 116.10%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st.

Hess Midstream Company 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.