Quantbot Technologies LP reduced its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,582 shares of the company's stock after selling 8,432 shares during the period. Quantbot Technologies LP owned approximately 0.06% of Hess Midstream worth $4,502,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Nordea Investment Management AB grew its position in shares of Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock worth $10,118,000 after buying an additional 134,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hess Midstream by 51.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,071 shares of the company's stock worth $13,370,000 after acquiring an additional 128,009 shares during the last quarter. Stifel Financial Corp grew its holdings in Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock valued at $405,000 after purchasing an additional 3,148 shares during the period. Van ECK Associates Corp increased its stake in Hess Midstream by 75.1% in the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock valued at $879,000 after purchasing an additional 10,175 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
HESM has been the subject of several research analyst reports. Raymond James boosted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Finally, Citigroup lifted their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.00.
Check Out Our Latest Analysis on Hess Midstream
Hess Midstream Stock Up 0.2 %
HESM stock traded up $0.11 during trading hours on Wednesday, reaching $43.02. 1,151,179 shares of the stock were exchanged, compared to its average volume of 935,399. The firm's 50-day moving average is $41.02 and its 200-day moving average is $37.92. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 17.28 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.
Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data 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, equities research analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.
Hess Midstream Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were issued a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.52%. Hess Midstream's dividend payout ratio (DPR) is 112.45%.
Insider Transactions at Hess Midstream
In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
About Hess Midstream
(
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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