Balyasny Asset Management L.P. Has $10.84 Million Stock Holdings in Hess Midstream LP (NYSE:HESM)

Balyasny Asset Management L.P. lessened its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 292,655 shares of the company's stock after selling 345,522 shares during the period. Balyasny Asset Management L.P. owned about 0.13% of Hess Midstream worth $10,837,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HESM. Tortoise Capital Advisors L.L.C. lifted its stake in Hess Midstream by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock worth $280,728,000 after purchasing an additional 83,943 shares during the period. Invesco Ltd. lifted its stake in Hess Midstream by 4.9% during the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after purchasing an additional 191,175 shares during the period. Epoch Investment Partners Inc. lifted its stake in Hess Midstream by 5.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock worth $122,553,000 after purchasing an additional 165,933 shares during the period. Clearbridge Investments LLC lifted its stake in Hess Midstream by 11.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock worth $64,872,000 after purchasing an additional 184,290 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Hess Midstream by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,134,495 shares of the company's stock worth $42,010,000 after purchasing an additional 30,200 shares during the period. Institutional investors own 98.97% of the company's stock.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

HESM has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, Citigroup increased 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Hess Midstream Price Performance

NYSE:HESM traded up $1.24 during mid-day trading on Monday, reaching $38.24. The stock had a trading volume of 797,304 shares, compared to its average volume of 989,941. The stock has a 50-day simple moving average of $39.22 and a two-hundred day simple moving average of $38.46. The stock has a market capitalization of $8.34 billion, a PE ratio of 15.36 and a beta of 0.67. 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 LP has a 12 month low of $33.59 and a 12 month high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. On average, equities analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Thursday, May 8th will be paid a $0.7098 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date is Thursday, May 8th. This represents a $2.84 annualized dividend and a yield of 7.42%. Hess Midstream's dividend payout ratio is presently 110.98%.

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.