Parkside Financial Bank & Trust Increases Stock Position in Hess Midstream LP (NYSE:HESM)

Parkside Financial Bank & Trust grew its stake in shares of Hess Midstream LP (NYSE:HESM) by 348.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,323 shares of the company’s stock after buying an additional 1,805 shares during the period. Parkside Financial Bank & Trust’s holdings in Hess Midstream were worth $73,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Hess Midstream during the 3rd quarter valued at $41,000. Avion Wealth grew its stake in shares of Hess Midstream by 66.7% during the 3rd quarter. Avion Wealth now owns 2,500 shares of the company’s stock valued at $72,000 after buying an additional 1,000 shares during the period. IFP Advisors Inc boosted its position in Hess Midstream by 23.7% during the 3rd quarter. IFP Advisors Inc now owns 2,935 shares of the company’s stock worth $85,000 after purchasing an additional 562 shares during the period. Wealth Alliance purchased a new stake in Hess Midstream during the 4th quarter worth $207,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in Hess Midstream during the 3rd quarter worth $204,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Trading Down 2.0 %

Hess Midstream stock opened at $34.93 on Friday. The firm has a 50 day simple moving average of $35.16 and a 200-day simple moving average of $32.78. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $7.91 billion, a PE ratio of 16.71 and a beta of 1.50. Hess Midstream LP has a 12-month low of $26.86 and a 12-month high of $36.84.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a return on equity of 28.21% and a net margin of 8.79%. The company’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. As a group, equities research analysts expect that Hess Midstream LP will post 2.42 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.6516 per share. This represents a $2.61 dividend on an annualized basis and a yield of 7.46%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, May 1st. Hess Midstream’s dividend payout ratio (DPR) is presently 121.53%.

Analyst Ratings Changes

HESM has been the subject of a number of research reports. UBS Group upped their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Three equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 11,500,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.