Fractal Investments LLC Buys 185,800 Shares of Hess Midstream LP (NYSE:HESM)

Fractal Investments LLC lifted its stake in shares of Hess Midstream LP (NYSE:HESM) by 375.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,247 shares of the company’s stock after acquiring an additional 185,800 shares during the quarter. Hess Midstream comprises approximately 1.5% of Fractal Investments LLC’s holdings, making the stock its 16th largest position. Fractal Investments LLC owned about 0.10% of Hess Midstream worth $7,441,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its stake in Hess Midstream by 348.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,323 shares of the company’s stock valued at $73,000 after purchasing an additional 1,805 shares during the period. Jennison Associates LLC bought a new stake in Hess Midstream during the 4th quarter valued at approximately $14,133,000. Wealth Alliance bought a new stake in Hess Midstream during the 4th quarter valued at approximately $207,000. Miller Howard Investments Inc. NY lifted its position in shares of Hess Midstream by 17.7% in the 4th quarter. Miller Howard Investments Inc. NY now owns 585,462 shares of the company’s stock worth $18,518,000 after acquiring an additional 88,055 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Hess Midstream by 38.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock worth $100,200,000 after acquiring an additional 887,859 shares during the period. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Price Performance

HESM stock traded up $0.26 during midday trading on Wednesday, reaching $35.59. 1,140,592 shares of the company’s stock traded hands, compared to its average volume of 897,880. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 17.03 and a beta of 1.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 8.81. The company has a 50-day simple moving average of $35.13 and a two-hundred day simple moving average of $32.76. Hess Midstream LP has a 1-year low of $26.86 and a 1-year high of $36.84.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, analysts anticipate that Hess Midstream LP will post 2.54 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Thursday, May 2nd will be given a $0.6516 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63. This represents a $2.61 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Wednesday, May 1st. Hess Midstream’s dividend payout ratio (DPR) is currently 121.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HESM shares. UBS Group increased their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. increased their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Hess Midstream has an average rating of “Moderate Buy” and an average price target of $35.67.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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.