Trexquant Investment LP Sells 27,467 Shares of Hess Midstream LP (NYSE:HESM)

Trexquant Investment LP reduced its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,031 shares of the company's stock after selling 27,467 shares during the quarter. Trexquant Investment LP owned about 0.10% of Hess Midstream worth $8,296,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HESM. Nordea Investment Management AB boosted its holdings in Hess Midstream by 98.0% in the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after purchasing an additional 134,171 shares during the period. Stifel Financial Corp lifted its stake in shares of Hess Midstream by 37.7% in the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock valued at $405,000 after buying an additional 3,148 shares during the period. Van ECK Associates Corp grew its position in Hess Midstream by 75.1% during the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after buying an additional 10,175 shares in the last quarter. Artemis Investment Management LLP increased its stake in Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after acquiring an additional 90,521 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Hess Midstream by 9.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company's stock valued at $7,093,000 after acquiring an additional 17,261 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

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Insider Activity at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hess Midstream Price Performance

Shares of NYSE HESM traded up $1.66 during midday trading on Wednesday, reaching $36.89. 1,700,850 shares of the company traded hands, compared to its average volume of 988,764. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50-day simple moving average is $40.68 and its 200-day simple moving average is $38.20. The firm has a market cap of $8.04 billion, a PE ratio of 14.82 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly 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, equities analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 7.60%. Hess Midstream's dividend payout ratio is 112.45%.

Wall Street Analyst Weigh In

HESM has been the topic of several recent research reports. Raymond James lifted their price objective on 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 boosted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.00.

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.