California State Teachers Retirement System Acquires 9,808 Shares of Hess Midstream LP (NYSE:HESM)

California State Teachers Retirement System grew its position in Hess Midstream LP (NYSE:HESM - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,624 shares of the company's stock after purchasing an additional 9,808 shares during the quarter. California State Teachers Retirement System's holdings in Hess Midstream were worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its holdings in Hess Midstream by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after buying an additional 298 shares during the period. ProShare Advisors LLC increased its holdings in Hess Midstream by 5.7% in the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after acquiring an additional 429 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Hess Midstream by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after acquiring an additional 432 shares during the last quarter. WBI Investments LLC raised its holdings in Hess Midstream by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company's stock valued at $678,000 after acquiring an additional 446 shares during the last quarter. Finally, Hardy Reed LLC raised its holdings in shares of Hess Midstream by 5.3% during the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock worth $333,000 after acquiring an additional 450 shares during the period. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on HESM. Wells Fargo & Company dropped their price target on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. 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 research note on Thursday, March 27th. Finally, Citigroup upped their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Hess Midstream Stock Performance

Shares of HESM traded up $0.60 during trading hours on Friday, reaching $38.97. 711,820 shares of the company's stock traded hands, compared to its average volume of 1,006,694. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 15.65 and a beta of 0.67. The business's fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $38.83. 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 released its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same period last year, the company posted $0.60 EPS. The company's revenue was up 7.4% compared to the same quarter last year. Analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 annualized dividend and a dividend yield of 7.29%. Hess Midstream's dividend payout ratio is 110.98%.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.