16,380 Shares in Hess Midstream LP (NYSE:HESM) Acquired by Quantessence Capital LLC

Quantessence Capital LLC purchased a new stake in Hess Midstream LP (NYSE:HESM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,380 shares of the company's stock, valued at approximately $607,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hsbc Holdings PLC acquired a new position in shares of Hess Midstream during the 4th quarter valued at $525,000. Stifel Financial Corp increased its stake in Hess Midstream by 11.8% in the fourth quarter. Stifel Financial Corp now owns 12,848 shares of the company's stock valued at $476,000 after purchasing an additional 1,358 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Hess Midstream by 5.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 40,306 shares of the company's stock valued at $1,491,000 after purchasing an additional 2,121 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Hess Midstream by 156.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,479 shares of the company's stock worth $573,000 after purchasing an additional 9,435 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in shares of Hess Midstream by 1.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after buying an additional 83,943 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink.

Hess Midstream Stock Down 0.3 %

Hess Midstream stock traded down $0.11 during trading on Friday, hitting $38.85. 752,476 shares of the company were exchanged, compared to its average volume of 994,641. The company has a market capitalization of $8.47 billion, a P/E ratio of 15.60 and a beta of 1.14. The business's 50 day moving average is $39.91 and its 200 day moving average is $38.31. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05. 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 (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid 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 yield of 7.22%. Hess Midstream's dividend payout ratio (DPR) is 112.45%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HESM shares. Raymond James upped their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Citigroup boosted their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective 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. Two 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.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.