Fox Run Management L.L.C. Buys Shares of 8,473 Hess Midstream LP (NYSE:HESM)

Fox Run Management L.L.C. acquired a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,473 shares of the company's stock, valued at approximately $314,000.

Several other large investors have also made changes to their positions in HESM. Yaupon Capital Management LP purchased a new stake in Hess Midstream in the third quarter valued at $44,088,000. Soros Fund Management LLC acquired a new position in shares of Hess Midstream in the 3rd quarter valued at about $14,108,000. Raymond James Financial Inc. purchased a new stake in shares of Hess Midstream in the fourth quarter worth about $12,976,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Hess Midstream during the fourth quarter worth about $8,786,000. Finally, Jennison Associates LLC grew its stake in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock worth $21,755,000 after purchasing an additional 151,220 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 stock was 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 available at the SEC website.

Hess Midstream Price Performance

Shares of HESM traded up $0.18 during mid-day trading on Tuesday, hitting $42.47. 992,702 shares of the company were exchanged, compared to its average volume of 971,952. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 17.05 and a beta of 1.48. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05. The company has a 50 day moving average of $41.21 and a 200-day moving average of $38.15. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

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Hess Midstream (NYSE:HESM - Get Free Report) last announced 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 return on equity of 54.59% and a net margin of 14.92%. Analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 6.60%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream's payout ratio is presently 112.45%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price 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. Citigroup raised their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Raymond James upped their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Hess Midstream has an average rating of "Moderate Buy" and an average target price of $43.00.

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.