Maryland State Retirement & Pension System Purchases 2,003 Shares of Hess Midstream LP (NYSE:HESM)

Maryland State Retirement & Pension System raised its position in Hess Midstream LP (NYSE:HESM) by 3.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 57,480 shares of the company’s stock after acquiring an additional 2,003 shares during the period. Maryland State Retirement & Pension System’s holdings in Hess Midstream were worth $1,818,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of HESM. Alps Advisors Inc. boosted its position in shares of Hess Midstream by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 11,728,814 shares of the company’s stock valued at $341,660,000 after purchasing an additional 3,107,528 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Hess Midstream by 38.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock valued at $100,200,000 after purchasing an additional 887,859 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Hess Midstream by 172.4% during the 3rd quarter. Epoch Investment Partners Inc. now owns 980,910 shares of the company’s stock worth $28,574,000 after purchasing an additional 620,779 shares in the last quarter. TD Asset Management Inc increased its position in shares of Hess Midstream by 171.9% during the third quarter. TD Asset Management Inc now owns 803,257 shares of the company’s stock valued at $23,399,000 after buying an additional 507,856 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Hess Midstream in the fourth quarter worth $14,133,000. Institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of Hess Midstream 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hess Midstream Stock Down 0.5 %

Hess Midstream stock traded down $0.17 during midday trading on Wednesday, reaching $34.59. The company’s stock had a trading volume of 44,720 shares, compared to its average volume of 897,431. The business has a 50-day simple moving average of $35.22 and a 200-day simple moving average of $33.05. Hess Midstream LP has a fifty-two week low of $26.86 and a fifty-two week high of $36.84. 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 market cap of $7.83 billion, a P/E ratio of 15.73 and a beta of 1.51.

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 issued a $0.6516 dividend. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date is Wednesday, May 1st. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63. Hess Midstream’s dividend payout ratio (DPR) is currently 118.10%.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of research reports. UBS Group raised their price objective on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company raised their price target on shares of Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Finally, 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hess Midstream has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

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.