Hess Midstream LP (NYSE:HESM) Shares Bought by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC lifted its position in shares of Hess Midstream LP (NYSE:HESM) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,762 shares of the company’s stock after buying an additional 1,725 shares during the period. Stokes Capital Advisors LLC owned approximately 0.07% of Hess Midstream worth $5,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after purchasing an additional 134,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock worth $13,370,000 after buying an additional 128,009 shares in the last quarter. Stifel Financial Corp boosted its position in Hess Midstream by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after buying an additional 3,148 shares during the period. Raymond James & Associates grew its stake in shares of Hess Midstream by 230.7% in the third quarter. Raymond James & Associates now owns 119,488 shares of the company’s stock worth $4,214,000 after acquiring an additional 83,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Hess Midstream by 9.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company’s stock worth $7,093,000 after acquiring an additional 17,261 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hess Midstream Stock Performance

NYSE:HESM opened at $41.20 on Monday. The firm has a market capitalization of $8.98 billion, a PE ratio of 17.46 and a beta of 1.52. Hess Midstream LP has a 12 month low of $32.03 and a 12 month high of $41.37. 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 business’s fifty day moving average price is $37.01 and its 200 day moving average price is $36.56.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, sell-side analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.6846 dividend. This represents a $2.74 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is 116.10%.

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.