UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 14,159 Shares of Hess Midstream LP (NYSE:HESM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,947 shares of the company's stock after selling 14,159 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Hess Midstream worth $6,923,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HESM. Hsbc Holdings PLC acquired a new position in shares of Hess Midstream during the 4th quarter worth approximately $525,000. Van ECK Associates Corp grew its position in shares of 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. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Hess Midstream during the 4th quarter worth approximately $8,786,000. Envestnet Asset Management Inc. grew its position in shares of Hess Midstream by 2.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock worth $4,450,000 after purchasing an additional 3,412 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Hess Midstream by 6.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company's stock worth $14,920,000 after purchasing an additional 23,844 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The sale was disclosed in a document filed with the SEC, which is available at this link.

Hess Midstream Price Performance

Shares of NYSE HESM traded up $0.81 during trading hours on Thursday, hitting $38.37. 1,155,082 shares of the stock were exchanged, compared to its average volume of 1,007,873. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $8.36 billion, a PE ratio of 15.41 and a beta of 0.67. The company's fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $38.83. Hess Midstream LP has a 1-year low of $33.59 and a 1-year high of $44.05.

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

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 7.40%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio (DPR) is currently 110.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HESM shares. Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company decreased 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 research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average 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.