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

Cubist Systematic Strategies LLC trimmed its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 98.5% in the 4th quarter, according to its most recent Form 13F 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 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its holdings in Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE lifted its holdings in Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after purchasing an additional 510 shares in the last quarter. IFP Advisors Inc lifted its holdings in Hess Midstream by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after purchasing an additional 733 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in 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 purchasing an additional 432 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after purchasing an additional 2,243 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Trading Up 0.1%

Shares of HESM opened at $38.88 on Monday. The company's fifty day moving average is $39.07 and its 200 day moving average is $38.59. Hess Midstream LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The stock has a market capitalization of $8.48 billion, a PE ratio of 15.61 and a beta of 0.67. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $384.28 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect 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 a boost 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 dividend on an annualized basis and a yield of 7.30%. Hess Midstream's payout ratio is 110.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HESM. 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. Raymond James lifted their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Citigroup boosted their target price on shares of 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 lowered their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.

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