Hess Midstream LP (NYSE:HESM) Shares Sold by Cohen & Steers Inc.

Cohen & Steers Inc. reduced its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 801 shares of the company's stock after selling 278,347 shares during the quarter. Cohen & Steers Inc.'s holdings in Hess Midstream were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HESM. Raymond James Financial Inc. acquired a new stake in shares of Hess Midstream in the fourth quarter valued at about $12,976,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Hess Midstream in the 4th quarter worth about $8,786,000. CIBC Private Wealth Group LLC increased its stake in Hess Midstream by 54.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after buying an additional 222,358 shares in the last quarter. Invesco Ltd. increased its stake in Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after buying an additional 191,175 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Hess Midstream in the fourth quarter valued at approximately $7,069,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HESM. JPMorgan Chase & Co. raised their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Raymond James raised their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup lifted their price objective on 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 raised their target price on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Hess Midstream Trading Up 2.0 %

HESM stock traded up $0.75 during midday trading on Friday, hitting $37.53. 1,149,504 shares of the company's stock were exchanged, compared to its average volume of 999,187. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05. The business has a 50-day simple moving average of $40.10 and a two-hundred day simple moving average of $38.24. The stock has a market capitalization of $8.18 billion, a PE ratio of 15.07 and a beta of 1.14. 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 (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a yield of 7.47%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. Hess Midstream's dividend payout ratio is 112.45%.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Company 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.