Dynamic Technology Lab Private Ltd Raises Stake in Hess Midstream LP (NYSE:HESM)

Dynamic Technology Lab Private Ltd grew its holdings in shares of Hess Midstream LP (NYSE:HESM) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,029 shares of the company’s stock after acquiring an additional 9,061 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Hess Midstream were worth $1,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Hess Midstream in the 2nd quarter worth $6,410,000. Vanguard Group Inc. lifted its stake in shares of Hess Midstream by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 456,607 shares of the company’s stock valued at $16,497,000 after acquiring an additional 54,769 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Hess Midstream by 26.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 853,682 shares of the company’s stock valued at $30,844,000 after acquiring an additional 176,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position 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 acquiring an additional 128,009 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in Hess Midstream by 20.3% in the 2nd quarter. MGO One Seven LLC now owns 174,476 shares of the company’s stock worth $6,358,000 after purchasing an additional 29,434 shares during the period. 92.41% of the stock is currently owned by institutional investors.

Insider Activity at Hess Midstream

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

Wall Street Analysts Forecast Growth

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

Hess Midstream Stock Down 0.4 %

Shares of NYSE:HESM opened at $36.62 on Tuesday. The stock’s 50-day moving average is $35.61 and its 200 day moving average is $36.05. The company has a market cap of $7.98 billion, a PE ratio of 15.52 and a beta of 1.51. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 1 year low of $30.08 and a 1 year high of $39.11.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $376.98 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.6846 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.48%. Hess Midstream’s payout ratio is presently 116.10%.

Hess Midstream 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.