Granite Group Advisors LLC Cuts Position in Hess Midstream LP (NYSE:HESM)

Granite Group Advisors LLC reduced its position in Hess Midstream LP (NYSE:HESM) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,731 shares of the company’s stock after selling 375 shares during the quarter. Granite Group Advisors LLC’s holdings in Hess Midstream were worth $249,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tompkins Financial Corp purchased a new position in Hess Midstream in the 3rd quarter worth approximately $71,000. KBC Group NV increased its stake in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after buying an additional 1,279 shares during the period. Millburn Ridgefield Corp bought a new stake in Hess Midstream during the 3rd quarter valued at $100,000. Icon Wealth Advisors LLC raised its holdings in Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after buying an additional 329 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after buying an additional 2,793 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hess Midstream Price Performance

HESM stock opened at $41.38 on Monday. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.53 and a beta of 1.52. The firm’s 50-day moving average price is $37.63 and its two-hundred day moving average price is $36.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $32.15 and a 12-month high of $41.61.

Hess Midstream (NYSE:HESM) last announced its 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 company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities analysts predict that Hess Midstream LP will post 2.41 earnings per share for the current year.

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.