Entropy Technologies LP Grows Position in Hess Midstream LP (NYSE:HESM)

Entropy Technologies LP lifted its position in shares of Hess Midstream LP (NYSE:HESM) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,797 shares of the company’s stock after purchasing an additional 1,106 shares during the quarter. Entropy Technologies LP’s holdings in Hess Midstream were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Tompkins Financial Corp acquired a new stake in Hess Midstream during the third quarter valued at $71,000. KBC Group NV grew its position in shares of Hess Midstream by 83.9% during 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 period. Millburn Ridgefield Corp purchased a new position in shares of Hess Midstream in the 3rd quarter valued at about $100,000. Icon Wealth Advisors LLC increased its stake in shares of Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock worth $119,000 after purchasing an additional 2,793 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Stock Performance

Shares of NYSE:HESM opened at $40.98 on Tuesday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 1 year low of $32.19 and a 1 year high of $42.15. The firm has a market capitalization of $8.93 billion, a PE ratio of 16.46 and a beta of 1.53. The business’s 50 day moving average price is $38.53 and its 200-day moving average price is $36.91.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, equities research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is currently 112.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HESM shares. Wells Fargo & Company boosted their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James boosted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th.

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.