Mackenzie Financial Corp Sells 143,733 Shares of Hess Midstream LP (NYSE:HESM)

Mackenzie Financial Corp lessened its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,143 shares of the company's stock after selling 143,733 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of Hess Midstream worth $4,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HESM. Steward Partners Investment Advisory LLC grew its stake in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing an additional 579 shares during the period. US Bancorp DE grew its stake in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after purchasing an additional 510 shares during the period. IFP Advisors Inc grew its stake in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after purchasing an additional 733 shares during the period. Virtus ETF Advisers LLC grew its stake in shares of Hess Midstream by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Hess Midstream by 80.0% in the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after acquiring an additional 2,243 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HESM shares. JPMorgan Chase & Co. increased their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Citigroup increased their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.80.

Hess Midstream Stock Performance

Shares of NYSE:HESM traded up $0.65 during midday trading on Monday, reaching $37.65. 1,962,400 shares of the company's stock traded hands, compared to its average volume of 1,005,273. Hess Midstream LP has a one year low of $33.59 and a one year high of $44.05. The stock has a 50 day moving average of $38.05 and a 200 day moving average of $38.82. 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 $8.21 billion, a price-to-earnings ratio of 15.12 and a beta of 0.67.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 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 firm had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. During the same quarter last year, the company earned $0.60 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a yield of 7.54%. The ex-dividend date was Thursday, May 8th. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's dividend payout ratio (DPR) is currently 110.98%.

About Hess Midstream

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.