Dynamic Technology Lab Private Ltd Sells 32,371 Shares of Hess Midstream LP (NYSE:HESM)

Dynamic Technology Lab Private Ltd reduced its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,658 shares of the company's stock after selling 32,371 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Hess Midstream were worth $469,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC increased its holdings in shares of Hess Midstream by 11.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after buying an additional 184,290 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Hess Midstream by 54.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock valued at $24,254,000 after purchasing an additional 222,358 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Hess Midstream by 34.7% in the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock valued at $21,755,000 after purchasing an additional 151,220 shares during the period. Finally, FMR LLC raised its holdings in Hess Midstream by 4.6% during the 3rd quarter. FMR LLC now owns 539,518 shares of the company's stock worth $19,029,000 after buying an additional 23,700 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Hess Midstream Stock Up 2.4 %

HESM stock traded up $0.84 during trading hours on Monday, reaching $36.52. 100,862 shares of the stock were exchanged, compared to its average volume of 992,397. 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 company has a market cap of $7.96 billion, a price-to-earnings ratio of 14.67 and a beta of 1.14. The firm's 50-day moving average is $40.46 and its 200-day moving average is $38.22. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share 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%. On average, equities research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 7.68%. Hess Midstream's payout ratio is 112.45%.

Analyst Upgrades and Downgrades

HESM has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price objective on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Citigroup lifted their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.