Russell Investments Group Ltd. Sells 41,859 Shares of Hess Midstream LP (NYSE:HESM)

Russell Investments Group Ltd. cut its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 79.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,838 shares of the company's stock after selling 41,859 shares during the quarter. Russell Investments Group Ltd.'s holdings in Hess Midstream were worth $401,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its stake in shares of Hess Midstream by 11.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after purchasing an additional 184,290 shares during the last quarter. Artemis Investment Management LLP lifted its position in shares of 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 buying an additional 90,521 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Hess Midstream by 54.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after acquiring an additional 222,358 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock valued at $21,755,000 after acquiring an additional 151,220 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hess Midstream by 6.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company's stock valued at $14,920,000 after acquiring an additional 23,844 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the 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 document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Price Performance

Shares of Hess Midstream stock opened at $37.75 on Thursday. The firm has a fifty day moving average price of $39.97 and a two-hundred day moving average price of $38.27. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05. 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 company has a market cap of $8.23 billion, a PE ratio of 15.16 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share 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%. Analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.43%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream's dividend payout ratio is presently 112.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HESM shares. Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Citigroup lifted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company raised their price target on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Hess Midstream currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Hess Midstream 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.