Cubist Systematic Strategies LLC Sells 237,879 Shares of Hess Midstream LP (NYSE:HESM)

Cubist Systematic Strategies LLC lessened its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 98.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,682 shares of the company's stock after selling 237,879 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Hess Midstream were worth $136,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HESM. Hsbc Holdings PLC bought a new position in Hess Midstream during the 4th quarter worth about $525,000. Van ECK Associates Corp increased its holdings in Hess Midstream by 75.1% during the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after purchasing an additional 10,175 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Hess Midstream by 11.9% during the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Hess Midstream in the 4th quarter valued at about $8,786,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Hess Midstream by 2.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock valued at $4,450,000 after acquiring an additional 3,412 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Analyst Ratings Changes

HESM has been the subject of several analyst reports. Citigroup raised their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Raymond James lifted their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company reduced their price target on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Hess Midstream has a consensus rating of "Moderate Buy" and an average target price of $42.80.

Hess Midstream Price Performance

HESM traded up $0.14 during trading on Friday, hitting $38.15. 695,376 shares of the stock traded hands, compared to its average volume of 991,462. Hess Midstream LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 15.32 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. The business has a 50 day moving average price of $38.70 and a 200 day moving average price of $38.68.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The business had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. During the same period in the previous year, the business earned $0.60 earnings per share. The company's revenue was up 7.4% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.44%. The ex-dividend date was Thursday, May 8th. Hess Midstream's payout ratio is currently 110.98%.

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.