Schroder Investment Management Group Has $14.74 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Schroder Investment Management Group increased its holdings in shares of Hess Midstream LP (NYSE:HESM) by 26.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 398,339 shares of the company’s stock after buying an additional 84,461 shares during the quarter. Schroder Investment Management Group owned 0.18% of Hess Midstream worth $14,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Hess Midstream during the fourth quarter worth about $7,069,000. JPMorgan Chase & Co. raised its holdings in Hess Midstream by 62.0% during the 4th quarter. JPMorgan Chase & Co. now owns 295,503 shares of the company’s stock worth $10,942,000 after buying an additional 113,080 shares during the period. LPL Financial LLC lifted its stake in Hess Midstream by 4.8% in the fourth quarter. LPL Financial LLC now owns 194,610 shares of the company’s stock valued at $7,206,000 after buying an additional 8,942 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Hess Midstream in the fourth quarter valued at approximately $314,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Hess Midstream during the fourth quarter worth $1,540,000. 98.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HESM shares. Citigroup upped their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Raymond James boosted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Insider Activity at Hess Midstream

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

Hess Midstream Stock Performance

Shares of NYSE HESM opened at $41.12 on Friday. The stock has a market capitalization of $8.96 billion, a PE ratio of 16.51 and a beta of 1.14. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05. The stock has a 50 day moving average price of $41.26 and a 200 day moving average price of $38.21. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating 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%. Analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.82%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 112.45%.

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.