Entropy Technologies LP Purchases 7,150 Shares of Hess Midstream LP (NYSE:HESM)

Entropy Technologies LP grew its position in Hess Midstream LP (NYSE:HESM) by 33.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,691 shares of the company’s stock after purchasing an additional 7,150 shares during the period. Entropy Technologies LP’s holdings in Hess Midstream were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in HESM. Westwood Holdings Group Inc. increased its stake in Hess Midstream by 126.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock valued at $70,567,000 after buying an additional 1,082,840 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Hess Midstream by 12.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company’s stock worth $270,686,000 after acquiring an additional 822,311 shares during the period. BROOKFIELD Corp ON lifted its holdings in Hess Midstream by 434.8% during the first quarter. BROOKFIELD Corp ON now owns 843,577 shares of the company’s stock worth $30,478,000 after acquiring an additional 685,847 shares during the period. Epoch Investment Partners Inc. boosted its position in Hess Midstream by 33.3% in the first quarter. Epoch Investment Partners Inc. now owns 2,390,636 shares of the company’s stock worth $86,374,000 after purchasing an additional 597,750 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Hess Midstream by 10.4% in the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company’s stock valued at $125,046,000 after purchasing an additional 322,479 shares during the period. 92.41% of the stock is owned by institutional investors.

Hess Midstream Trading Down 1.8 %

NYSE:HESM opened at $34.19 on Thursday. Hess Midstream LP has a 12 month low of $29.90 and a 12 month high of $39.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm’s 50 day moving average is $35.61 and its 200 day moving average is $35.95. The stock has a market capitalization of $7.55 billion, a PE ratio of 14.49 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. Sell-side analysts expect that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is currently 115.68%.

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st.

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.