Tortoise Index Increases Holdings in Hess Midstream (HESM) as Insider Trading Raises Concerns (2024)

Hess Midstream LP (NYSE:HESM) has actually just recently been making headings in the monetary world. In the 4th quarter of in 2015, financial investment management company Tortoise Index Solutions LLC raised their holdings in HESM by 29.4%, according to a recent Form 13F filing with the Securities & Exchange Commission. This suggests that they now own around 0.12% of Hess Midstream, which totals up to 53,466 shares and deserves $1,165,000.

Although this news alone might not be groundbreaking, it ends up being more fascinating when integrated with HESM’s most recent incomes report and expert trading activity. On April 26th, Hess Midstream reported an EPS of $0.47 for the quarter, disappointing experts’ price quote of $0.55 by ($0.08). The business likewise reported income of $305 million for the quarter, which was somewhat listed below expectations.

In May of this year, HESM experienced some considerable expert trading activity too. Director Corp Hess sold an astounding 6,382,500 shares of the stock at an average price of $26.12 apiece- amounting to a whopping total transaction value of $166,710,900! Investors have been paying close attention to this development as it relates to corporate governance and leadership stability within the company.

It should be noted that CFO Jonathan C. Stein also sold a small portion (2,239 shares) of HESM’s stock in March at an average price of $28.26 per share – yet his sale pales in comparison to Hess’ recent activity.

Despite these developments causing concern amongst some investors and analysts alike, there are still positive signs about Hess Midstream’s future outlook: research analysts are predicting that they will post earnings per share figures totaling around $2.03 for this year alone.

All in all, it seems that HESM is going through a period of considerable growth and change, but with some recent stumbles behind them. It will be interesting to see how this energy logistics company performs in the coming months, especially as it navigates these fluctuations in its stock prices and potential changes in leadership structure.

Institutional Investors Flock to Hess Midstream as Company’s Value Continues to Rise

Hess Midstream LP, a company with a market capitalization of $1.27 billion, has caught the attention of institutional investors and hedge funds alike. According to recent reports, Private Trust Co. NA bought a new position in Hess Midstream during Q4 2019 worth $30,000, while Tower Research Capital LLC TRC acquired a stake in Hess Midstream in Q3 2019 valued at $32,000. Geneos Wealth Management Inc. increased its holdings in Hess Midstream by 55.6% in Q4 2019 and now owns 1,400 shares of the company’s stock valued at $42,000 after purchasing an additional 500 shares during that period. Similarly, Great West Life Assurance Co Can increased its holdings by almost 84% in Q1 2020 and now owns 1,762 shares of the company’s stock valued at $56,000 after purchasing an additional 804 shares. Finally, BNP Paribas Arbitrage SNC acquired a new stake in Hess Midstream during Q3 worth about $71,000. As such, institutional investors own approximately 87.59% of the company’s stock.

In today’s trading session on Friday May 22nd NYSE:HESM traded up $0.66 hitting $28.72 with volume at around 317k shares as opposed to its average daily volume of roughly half a million at around that rate level alone albeit with an overall market capitalization slightly exceeding over one billion dollars priced at PE ratio of approximately fourteen.

The business recently disclosed The hike in quarterly dividend from previous worth ($0.57) A hefty increase to shareholders who received their payout on Friday May12th beginning with shareholders recorded on ThursedayMay fourth while resulting max annualized yield is found out to be eight point one five percent($2.34).

Similarly several equities research analysts have actually given positive rating on the stock .UBS Group initiated coverage on shares of Hess Midstream in a research note on Wednesday, May 10th. They issued a “buy” rating and a $37.00 price objective for the business. Raymond James assumed coverage on shares of Hess Midstream in a research note on Friday, April 21st. They issued an “outperform” rating and a $35.00 rate objective for the business.