Hess Midstream LP (NYSE:HESM) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lowered its position in Hess Midstream LP (NYSE:HESM - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 846,720 shares of the company's stock after selling 235,394 shares during the period. Miller Howard Investments Inc. NY owned about 0.39% of Hess Midstream worth $31,354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HESM. Stephens Inc. AR lifted its holdings in Hess Midstream by 11.8% during the fourth quarter. Stephens Inc. AR now owns 103,169 shares of the company's stock valued at $3,820,000 after purchasing an additional 10,888 shares in the last quarter. Entropy Technologies LP lifted its stake in Hess Midstream by 3.9% in the 4th quarter. Entropy Technologies LP now owns 29,797 shares of the company's stock valued at $1,103,000 after buying an additional 1,106 shares in the last quarter. Empowered Funds LLC boosted its holdings in Hess Midstream by 12.4% in the 4th quarter. Empowered Funds LLC now owns 81,171 shares of the company's stock worth $3,006,000 after buying an additional 8,972 shares during the last quarter. Jennison Associates LLC increased its stake in 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 buying an additional 151,220 shares in the last quarter. Finally, Leisure Capital Management raised its holdings in shares of Hess Midstream by 5.8% during the fourth quarter. Leisure Capital Management now owns 26,148 shares of the company's stock valued at $968,000 after acquiring an additional 1,425 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on HESM shares. Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th.

Hess Midstream Price Performance

Shares of NYSE:HESM traded down $0.54 during midday trading on Wednesday, hitting $38.83. The company had a trading volume of 1,645,544 shares, compared to its average volume of 1,159,091. Hess Midstream LP has a twelve month low of $32.36 and a twelve month high of $42.15. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 15.59 and a beta of 1.53. 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 business's 50-day simple moving average is $38.60 and its 200-day simple moving average is $36.94.

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

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be issued a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 7.22%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream's payout ratio is presently 112.45%.

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.