Point72 Asset Management L.P. Acquires New Position in Hess Midstream LP (NYSE:HESM)

Point72 Asset Management L.P. bought a new position in Hess Midstream LP (NYSE:HESM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,483 shares of the company's stock, valued at approximately $1,684,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in shares of Hess Midstream by 5.7% in the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after acquiring an additional 429 shares during the last quarter. Palo Duro Investment Partners LP purchased a new position in Hess Midstream in the 4th quarter worth $220,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hess Midstream by 11.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock worth $185,560,000 after purchasing an additional 496,464 shares during the period. Lazard Asset Management LLC lifted its stake in Hess Midstream by 9.9% in the fourth quarter. Lazard Asset Management LLC now owns 15,011 shares of the company's stock worth $555,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its position in Hess Midstream by 48.7% during the fourth quarter. Graham Capital Management L.P. now owns 79,066 shares of the company's stock valued at $2,928,000 after buying an additional 25,894 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lifted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock 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 research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the 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 Stock Performance

Hess Midstream stock opened at $38.11 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm has a market cap of $8.31 billion, a P/E ratio of 15.31 and a beta of 0.67. Hess Midstream LP has a 1-year low of $33.59 and a 1-year high of $44.05. The firm has a 50-day moving average of $38.90 and a 200-day moving average of $38.61.

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

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were paid a $0.7098 dividend. This is a positive change 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 7.45%. Hess Midstream's dividend payout ratio (DPR) is presently 110.98%.

Hess Midstream Company 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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