Westover Capital Advisors LLC Purchases 3,695 Shares of Hess Midstream LP (NYSE:HESM)

Westover Capital Advisors LLC grew its position in shares of Hess Midstream LP (NYSE:HESM) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 82,513 shares of the company’s stock after acquiring an additional 3,695 shares during the quarter. Westover Capital Advisors LLC’s holdings in Hess Midstream were worth $3,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after acquiring an additional 579 shares during the last quarter. Tompkins Financial Corp bought a new stake in shares of Hess Midstream in the 3rd quarter valued at about $71,000. US Bancorp DE lifted its stake in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 510 shares during the last quarter. KBC Group NV lifted its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of Hess Midstream in the 3rd quarter valued at about $100,000. Institutional investors own 98.97% of the company’s stock.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hess Midstream Stock Down 1.6 %

Shares of NYSE:HESM opened at $41.07 on Tuesday. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $42.31. The company has a market cap of $8.95 billion, a PE ratio of 16.49 and a beta of 1.53. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $39.73 and its 200 day moving average is $37.35.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results 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%. Sell-side analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.7012 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.83%. Hess Midstream’s dividend payout ratio is 112.45%.

Analysts Set New Price Targets

HESM has been the subject of a number of recent research reports. Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Two equities 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 $42.00.

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.