Renaissance Technologies LLC Raises Holdings in Hess Midstream LP (NYSE:HESM)

Renaissance Technologies LLC boosted its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,134,495 shares of the company's stock after buying an additional 30,200 shares during the period. Renaissance Technologies LLC owned 0.52% of Hess Midstream worth $42,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of HESM. Steward Partners Investment Advisory LLC raised its position in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after acquiring an additional 579 shares in the last quarter. US Bancorp DE lifted its position in shares of Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after buying an additional 733 shares in the last quarter. KBC Group NV grew its position in shares of Hess Midstream by 80.0% in the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after buying an additional 2,243 shares during the last quarter. Finally, South Street Advisors LLC grew its position in shares of Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after buying an additional 450 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

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Insider Activity

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's 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 is available through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have weighed in on HESM shares. Raymond James raised their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price target on Hess Midstream from $40.00 to $42.00 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat.com, Hess Midstream has an average rating of "Moderate Buy" and an average price target of $43.00.

Hess Midstream Stock Performance

HESM traded up $0.40 on Tuesday, reaching $36.90. 669,597 shares of the stock were exchanged, compared to its average volume of 994,710. The company's 50-day moving average price is $40.35 and its 200 day moving average price is $38.23. 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 firm has a market capitalization of $8.04 billion, a PE ratio of 14.82 and a beta of 1.14. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly 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 net margin of 14.92% and a return on equity of 54.59%. As a group, sell-side analysts forecast that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

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

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.