ExodusPoint Capital Management LP boosted its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 51.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,433 shares of the company's stock after acquiring an additional 53,851 shares during the quarter. ExodusPoint Capital Management LP owned about 0.07% of Hess Midstream worth $5,904,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HESM. apricus wealth LLC raised its holdings in Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock worth $685,000 after purchasing an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC grew its stake in Hess Midstream by 2.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock valued at $483,000 after acquiring an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Hess Midstream by 2.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after acquiring an additional 298 shares in the last quarter. Hardy Reed LLC raised its position in Hess Midstream by 5.3% during the fourth quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock worth $333,000 after acquiring an additional 450 shares during the last quarter. Finally, South Street Advisors LLC lifted its holdings in shares of Hess Midstream by 7.8% in the fourth quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock valued at $231,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.
Hess Midstream Trading Down 4.9 %
NYSE:HESM traded down $1.81 during trading hours on Thursday, reaching $35.04. 878,911 shares of the company were exchanged, compared to its average volume of 988,445. 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 cap of $7.64 billion, a price-to-earnings ratio of 14.05 and a beta of 1.14. The stock has a 50 day simple moving average of $40.68 and a 200 day simple moving average of $38.20. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $44.05.
Hess Midstream (NYSE:HESM - Get Free Report) last issued 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%. As a group, analysts predict that Hess Midstream LP will post 2.5 EPS for the current year.
Hess Midstream Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a dividend of $0.7012 per share. This is an increase 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 8.00%. Hess Midstream's payout ratio is 112.45%.
Insiders Place Their Bets
In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's 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 document filed with the SEC, which is accessible through the SEC website.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HESM. JPMorgan Chase & Co. lifted their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Raymond James lifted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hess Midstream has a consensus rating of "Moderate Buy" and an average target price of $43.00.
Check Out Our Latest Analysis on Hess Midstream
Hess Midstream Profile
(
Free Report)
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.
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