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

California State Teachers Retirement System lifted its position in Hess Midstream LP (NYSE:HESM - Free Report) by 12.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,624 shares of the company's stock after purchasing an additional 9,808 shares during the period. California State Teachers Retirement System's holdings in Hess Midstream were worth $3,319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in HESM. Investment Management Corp VA ADV bought a new stake in shares of Hess Midstream in the fourth quarter worth about $315,000. Zimmer Partners LP purchased a new stake in Hess Midstream in the 4th quarter worth approximately $23,415,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Hess Midstream in the 4th quarter worth approximately $1,255,000. WBI Investments LLC increased its stake in shares of Hess Midstream by 2.5% during the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company's stock valued at $678,000 after buying an additional 446 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Hess Midstream during the fourth quarter valued at approximately $1,684,000. Institutional investors own 98.97% of the company's stock.

Hess Midstream Stock Up 1.6%

HESM stock traded up $0.60 during midday trading on Friday, hitting $38.97. The stock had a trading volume of 711,820 shares, compared to its average volume of 1,007,954. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 15.65 and a beta of 0.63. The business has a 50-day moving average of $37.72 and a two-hundred day moving average of $38.88. Hess Midstream LP has a 52-week low of $33.59 and a 52-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.

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

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend was Thursday, May 8th. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio is 110.98%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company dropped their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup boosted their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Two equities 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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.