Jump Financial LLC Decreases Stake in Hess Midstream LP (NYSE:HESM)

Jump Financial LLC cut its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 79.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,902 shares of the company's stock after selling 78,453 shares during the quarter. Jump Financial LLC's holdings in Hess Midstream were worth $774,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Guggenheim Capital LLC increased its holdings in shares of Hess Midstream by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 20,424 shares of the company's stock valued at $756,000 after purchasing an additional 1,343 shares during the period. XTX Topco Ltd acquired a new position in Hess Midstream in the 4th quarter worth approximately $622,000. Mariner LLC lifted its stake in Hess Midstream by 6.5% during the 4th quarter. Mariner LLC now owns 55,138 shares of the company's stock valued at $2,042,000 after acquiring an additional 3,384 shares during the period. Barclays PLC lifted its stake in Hess Midstream by 42.0% during the 4th quarter. Barclays PLC now owns 485,014 shares of the company's stock valued at $17,961,000 after acquiring an additional 143,566 shares during the period. Finally, ELCO Management Co. LLC boosted its holdings in shares of Hess Midstream by 9.5% in the 4th quarter. ELCO Management Co. LLC now owns 23,347 shares of the company's stock valued at $865,000 after acquiring an additional 2,027 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Stock Performance

NYSE HESM opened at $37.39 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05. The stock has a 50-day moving average of $40.01 and a 200 day moving average of $38.27. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 15.02 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its 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%. Sell-side analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a $0.7012 dividend. This is a positive change 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 dividend yield of 7.50%. Hess Midstream's dividend payout ratio (DPR) is 112.45%.

Analyst Ratings Changes

HESM has been the subject of a number of research reports. 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 report on Tuesday, February 4th. Raymond James upped their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup lifted their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.00.

Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction that occurred 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 can be accessed through this link.

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.

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