Hess Midstream LP (NYSE:HESM) Shares Sold by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC decreased its stake in Hess Midstream LP (NYSE:HESM) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,745 shares of the company’s stock after selling 305 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Hess Midstream were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings in shares of Hess Midstream by 98.0% in the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after acquiring an additional 134,171 shares during the period. Stifel Financial Corp grew its position in Hess Midstream by 37.7% during the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock worth $405,000 after purchasing an additional 3,148 shares during the last quarter. Van ECK Associates Corp increased its stake in Hess Midstream by 75.1% in the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock valued at $879,000 after purchasing an additional 10,175 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after buying an additional 90,521 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hess Midstream by 9.4% during 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 buying an additional 17,261 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on HESM shares. Citigroup upped their price objective 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 increased their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Hess Midstream Stock Performance

Shares of HESM stock opened at $42.82 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a 50 day simple moving average of $41.02 and a 200-day simple moving average of $37.92. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 17.20 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $44.05.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data 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 return on equity of 54.59% and a net margin of 14.92%. On average, equities analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.55%. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.