AlphaQuest LLC Has $1.90 Million Stock Position in Hess Midstream LP (NYSE:HESM)

AlphaQuest LLC decreased its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 21.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 51,281 shares of the company's stock after selling 14,256 shares during the period. AlphaQuest LLC's holdings in Hess Midstream were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after buying an additional 579 shares during the last quarter. Tompkins Financial Corp purchased a new position in shares of Hess Midstream in the 3rd quarter worth $71,000. US Bancorp DE increased its stake in Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after acquiring an additional 510 shares during the last quarter. KBC Group NV lifted its position in 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 last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Hess Midstream in the 3rd quarter worth about $100,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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Hess Midstream Stock Performance

Shares of HESM stock traded up $0.03 during trading hours on Thursday, hitting $40.67. The stock had a trading volume of 793,895 shares, compared to its average volume of 1,207,383. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $8.87 billion, a PE ratio of 16.34 and a beta of 1.48. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $42.31. The stock's 50 day moving average is $40.21 and its 200 day moving average is $37.53.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, research analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.90%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream's payout ratio is presently 112.45%.

Analyst Ratings Changes

A number of analysts have weighed in on HESM shares. Raymond James upped their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Citigroup upped their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.00.

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.