Icon Wealth Advisors LLC Sells 1,460 Shares of Hess Midstream LP (NYSE:HESM)

Icon Wealth Advisors LLC lessened its position in Hess Midstream LP (NYSE:HESM) by 49.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,499 shares of the company’s stock after selling 1,460 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Hess Midstream were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Hess Midstream by 19.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 67,939 shares of the company’s stock worth $2,396,000 after buying an additional 11,061 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company’s stock valued at $13,370,000 after purchasing an additional 128,009 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Hess Midstream by 16.0% during the 3rd quarter. Quest Partners LLC now owns 65,537 shares of the company’s stock valued at $2,311,000 after purchasing an additional 9,028 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after purchasing an additional 194,154 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Hess Midstream by 13.1% in the 3rd quarter. Swiss National Bank now owns 200,000 shares of the company’s stock worth $7,054,000 after acquiring an additional 23,100 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the 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 transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The disclosure for this sale can be found here.

Hess Midstream Trading Down 0.1 %

Shares of HESM stock opened at $36.78 on Monday. The company’s 50-day moving average price is $35.62 and its 200-day moving average price is $36.04. 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 stock has a market cap of $8.02 billion, a price-to-earnings ratio of 15.58 and a beta of 1.51. Hess Midstream LP has a twelve month low of $30.08 and a twelve month high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 net margin of 13.06% and a return on equity of 47.87%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities analysts predict that Hess Midstream LP will post 2.45 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio is currently 116.10%.

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.

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.