Hess Midstream LP (NYSE:HESM) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,000 shares of the company's stock after selling 13,600 shares during the quarter. Two Sigma Advisers LP's holdings in Hess Midstream were worth $815,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of HESM. Steward Partners Investment Advisory LLC boosted its position in Hess Midstream by 77.2% during the 4th 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 during the period. US Bancorp DE lifted 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 valued at $74,000 after buying an additional 510 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of 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 acquiring an additional 733 shares during the period. Virtus ETF Advisers LLC grew its position in shares of Hess Midstream by 9.5% during 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 increased its holdings in shares of Hess Midstream by 80.0% in the 4th 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 period. Institutional investors own 98.97% of the company's stock.

Hess Midstream Price Performance

Shares of HESM stock traded up $1.00 during midday trading on Thursday, reaching $38.56. 632,720 shares of the company were exchanged, compared to its average volume of 1,004,552. The company's 50 day moving average price is $37.87 and its two-hundred day moving average price is $38.81. The company has a market cap of $8.41 billion, a P/E ratio of 15.48 and a beta of 0.67. Hess Midstream LP has a 12 month low of $33.59 and a 12 month high of $44.05. 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 announced its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $382.00 million for the quarter, compared to analysts' expectations of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's payout ratio is currently 110.98%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HESM. Wells Fargo & Company reduced their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Citigroup increased 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Insider Activity

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business'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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.