Canada Pension Plan Investment Board Makes New Investment in Hess Midstream LP (NYSE:HESM)

Canada Pension Plan Investment Board acquired a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 97,400 shares of the company's stock, valued at approximately $3,607,000.

Several other hedge funds have also recently made changes to their positions in HESM. Steward Partners Investment Advisory LLC increased its position in Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after buying an additional 579 shares in the last quarter. US Bancorp DE increased its position in Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares in the last quarter. IFP Advisors Inc increased its position in 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 increased its position in Hess Midstream by 80.0% in the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after buying an additional 2,243 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in Hess Midstream in the 4th quarter valued at about $218,000. 98.97% of the stock is owned by institutional investors.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company'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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Hess Midstream Stock Performance

Shares of NYSE HESM traded up $0.10 during midday trading on Monday, reaching $38.88. The company's stock had a trading volume of 590,702 shares, compared to its average volume of 993,402. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $44.05. The firm has a 50 day moving average price of $39.87 and a 200-day moving average price of $38.36. The stock has a market capitalization of $8.48 billion, a P/E ratio of 15.61 and a beta of 1.14. 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 announced 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%. As a group, equities analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HESM shares. JPMorgan Chase & Co. boosted their target price on 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 boosted their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.