Oppenheimer Asset Management Inc. Has $408,000 Stake in Hess Midstream LP (NYSE:HESM)

Oppenheimer Asset Management Inc. increased its stake in shares of Hess Midstream LP (NYSE:HESM) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,559 shares of the company’s stock after purchasing an additional 1,032 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hess Midstream were worth $408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Hess Midstream during the first quarter worth approximately $30,000. Clear Point Advisors Inc. bought a new stake in shares of Hess Midstream during the 1st quarter valued at $49,000. Tompkins Financial Corp acquired a new position in shares of Hess Midstream in the 3rd quarter valued at $71,000. Comerica Bank boosted its position in shares of Hess Midstream by 7.4% in the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the last quarter. Finally, South Street Advisors LLC acquired a new stake in shares of Hess Midstream during the second quarter worth $211,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st.

Insiders Place Their Bets

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

Hess Midstream Trading Up 1.1 %

Shares of NYSE HESM opened at $36.31 on Wednesday. Hess Midstream LP has a twelve month low of $30.08 and a twelve month high of $39.11. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 15.39 and a beta of 1.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company’s fifty day moving average is $35.60 and its 200-day moving average is $36.00.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping 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 analyst estimates of $376.98 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.6846 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a dividend yield of 7.54%. Hess Midstream’s payout ratio is currently 116.10%.

About Hess Midstream

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.