Hess Midstream LP (NYSE:HESM) Stock Position Decreased by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of Hess Midstream by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after buying an additional 298 shares during the period. ProShare Advisors LLC raised its position in Hess Midstream by 5.7% in the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after acquiring an additional 429 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings 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 last quarter. Hardy Reed LLC boosted its position in shares of Hess Midstream by 5.3% during the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock valued at $333,000 after purchasing an additional 450 shares in the last quarter. Finally, South Street Advisors LLC grew its stake in shares of Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Trading Up 1.6%

Shares of NYSE:HESM traded up $0.60 during mid-day trading on Friday, hitting $38.97. The stock had a trading volume of 711,820 shares, compared to its average volume of 1,007,464. The company's 50 day moving average is $37.72 and its 200-day moving average is $38.84. 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. The company has a market cap of $8.50 billion, a PE ratio of 15.65 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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $384.28 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 7.29%. Hess Midstream's dividend payout ratio (DPR) is presently 110.98%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

HESM has been the subject of several recent research reports. Wells Fargo & Company cut 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. Citigroup raised their price objective 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, JPMorgan Chase & Co. upped their target price on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Hess Midstream currently has an average rating of "Moderate Buy" and an average price target 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.