Entropy Technologies LP Raises Stake in Hess Midstream LP (NYSE:HESM)

Entropy Technologies LP increased its position in shares of Hess Midstream LP (NYSE:HESM) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 29,797 shares of the company’s stock after acquiring an additional 1,106 shares during the quarter. Entropy Technologies LP’s holdings in Hess Midstream were worth $1,103,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

HESM has been the topic of a number of research analyst reports. Raymond James lifted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th.

Hess Midstream Stock Up 1.2 %

NYSE:HESM opened at $40.98 on Tuesday. Hess Midstream LP has a 52 week low of $32.19 and a 52 week high of $42.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock’s fifty day moving average is $38.53 and its two-hundred day moving average is $36.91. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 16.46 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be issued a $0.7012 dividend. The ex-dividend date is Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.84%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is 112.45%.

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.