Fort Washington Investment Advisors Inc. OH Purchases 58,849 Shares of Hess Midstream LP (NYSE:HESM)

Fort Washington Investment Advisors Inc. OH increased its position in Hess Midstream LP (NYSE:HESM) by 934.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,145 shares of the company’s stock after purchasing an additional 58,849 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Hess Midstream were worth $2,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HESM. Farther Finance Advisors LLC lifted its position in Hess Midstream by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after purchasing an additional 579 shares during the period. US Bancorp DE lifted its position in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares during the period. IFP Advisors Inc lifted its position in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after purchasing an additional 733 shares during the period. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Hess Midstream by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock valued at $184,000 after acquiring an additional 432 shares during the period. 98.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Hess Midstream from $42.00 to $41.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Citigroup lifted their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

Insider Activity

In related news, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The disclosure for this sale can be found here.

Hess Midstream Stock Performance

Shares of NYSE:HESM opened at $39.51 on Friday. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The firm has a market cap of $8.51 billion, a PE ratio of 15.87 and a beta of 0.63. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day moving average of $37.78 and a 200-day moving average of $38.93.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The company had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same period last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.19%. Hess Midstream’s dividend payout ratio (DPR) is 110.98%.

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.