Millennium Management LLC lessened its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 40.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 973,482 shares of the company's stock after selling 671,190 shares during the period. Millennium Management LLC owned 0.45% of Hess Midstream worth $36,048,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. apricus wealth LLC increased its position in Hess Midstream by 1.4% in the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company's stock valued at $685,000 after acquiring an additional 250 shares during the period. Teamwork Financial Advisors LLC increased its position in Hess Midstream by 2.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock valued at $483,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. increased its position in Hess Midstream by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after acquiring an additional 298 shares during the period. Virtus ETF Advisers LLC increased its position in Hess Midstream by 9.5% in the 4th 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 period. Finally, Hardy Reed LLC increased its position in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock valued at $333,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on HESM shares. Raymond James boosted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Citigroup boosted their target price on 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. boosted their target price on 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 dropped their target price on 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, Hess Midstream presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.
Check Out Our Latest Report on Hess Midstream
Hess Midstream Stock Performance
NYSE HESM traded up $0.14 on Friday, hitting $38.15. 695,376 shares of the company's stock were exchanged, compared to its average volume of 989,136. 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 firm's 50-day moving average price is $38.70 and its two-hundred day moving average price is $38.66. Hess Midstream LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 15.32 and a beta of 0.67.
Hess Midstream (NYSE:HESM - Get Free Report) last released its 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. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The company had revenue of $382.00 million for the quarter, compared to analysts' expectations of $384.28 million. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.
Hess Midstream Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were issued a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.44%. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio is currently 110.98%.
Hess Midstream Company Profile
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Free Report)
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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