According to Eagle Global Advisors LLC most recent filing with the Securities & Exchange Commission, the company increased its holdings in Hess Midstream LP “NYSE HESM” Free Report by 70.0% during the third quarter. After purchasing an additional 322,285 shares of the company’s stock during the period, the institutional investor now held 782,765 shares of the stock.
Hess Midstream is the sixteenth largest holding in Eagle Global Advisors LLC Portfolio, accounting for 1.5% of the total holdings. As of its most recent SEC filing, Eagle Global Advisors LLC owned about 1.17% of Hess Midstream, valued at $22,802,000.
Hedge funds and other institutional investors have also adjusted their stakes in the business. Advisor Group Holdings Inc. experienced a fourth-quarter decline. increased its holdings of Hess Midstream shares by 6.5%. Advisor Group Holdings Inc.
acquired 358 more shares of the company’s stock during the period, bringing its total ownership of 5,825 shares to $174,000. During the fourth quarter, Legal & General Group Plc increased its ownership of Hess Midstream shares by 3.2%. After acquiring 360 more shares during the period, Legal & General Group Plc currently has 11,672 shares of the company’s stock valued at $349,000. During the first quarter, the California State Teachers Retirement System increased its ownership of Hess Midstream shares by 1.4%.
The California State Teachers Retirement System acquired 411 more “shares of the company’s stock” during the period, for a total value of 28,844 “shares of the company’s stock” at this point. During the first quarter, Guggenheim Capital LLC increased its position in Hess Midstream shares by 5.6%. Guggenheim Capital LLC acquired an extra 510 shares of the company’s stock during the period, bringing its total ownership of 9,602 shares to $288,000.
Lastly, during the fourth quarter, NBW Capital LLC increased its holdings of Hess Midstream shares by 0.3%. NBW Capital LLC acquired an extra 556 shares of the company’s stock during the period, bringing its total ownership of 185,916 shares to $5,563,000. Hedge funds and other institutional investors own 86.34% of the stock.
Midstream Hess Stock Increases 2.1% Eagle Global Advisors LLC
On Friday, NYSE HESM shares opened at $32.25. The company’s current ratio is 0.79, its quick ratio is 0.79, and its debt to equity ratio is 7.05. The company is valued at $7.41 billion on the market, with a price-to-earnings ratio of 15.89 and a beta of 1.58. The price of the stock is $31.30 on the 50-day moving average and $30.49 on the 200-day moving average. The 52-week low and high for Hess Midstream LP are $25.63 and $33.32, respectively.
The last time Hess Midstream (NYSE:HESM – Get Free Report) released its financial results was on Wednesday, October 25. By $0.02, the company’s $0.57 earnings per share for the quarter beat analysts’ consensus estimates of $0.55. Analyst estimates for the company’s revenue for the quarter were $342.22 million, but it actually brought in $363.10 million. Hess Midstream had a net margin of 7.87% and a return on equity of 22.28%. Sell-side analysts predict that for the current year, Hess Midstream LP will report 2.08 earnings per share.
Midstream Hess Ups Dividend
Additionally, the company declared and paid out a quarterly dividend on Tuesday, November 14th. A dividend of $0.618 per share was paid to shareholders who were of record on Thursday, November 2. November 1st, a Wednesday, was the ex-dividend date. This translates into an annualized dividend of $2.47 and a 7.67% yield. Compared to Hess Midstream’s prior quarterly dividend of $0.60, this represents a favorable change. At present, Hess Midstream has a dividend payout ratio of 121.68%.
Wall Street Experts Project Increase
Numerous research reports have addressed HESM. In a research report that was made public on Thursday, October 19, Raymond James upgraded their price target of $35.00 to $38.00 for Hess Midstream shares and gave the business a “outperform rating.” UBS Group lowered its price target for Hess Midstream from $37.00 to $36.00 and gave the company a “buy” rating in a report that was made public on Thursday, October 5.
Thursday, October 5, marked the official start of “Hess Midstream” reporting by the Goldman Sachs Group. They gave the company a “buy” rating and a price target of $32.00. The company’s stock has been rated as a buy by three research analysts and as a hold by two.
Hess Midstream Business Overview
Midstream assets are owned, developed, operated, and purchased by Hess Midstream LP. Gathering, Processing and Storage, and Terminaling and Export are the three business segments. The Gathering segment is the owner of produced water gathering and disposal facilities, natural gas gathering and compression systems, and crude oil gathering systems.
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