Two Sigma Investments LP Decreases Stock Holdings in Hess Midstream LP (NYSE:HESM)

Two Sigma Investments LP lessened its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,581 shares of the company's stock after selling 15,991 shares during the period. Two Sigma Investments LP's holdings in Hess Midstream were worth $2,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HESM. Tortoise Capital Advisors L.L.C. raised its position in shares of Hess Midstream by 1.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after buying an additional 83,943 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hess Midstream by 11.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock valued at $185,560,000 after purchasing an additional 496,464 shares during the last quarter. Invesco Ltd. increased its position in Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after purchasing an additional 191,175 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Hess Midstream by 5.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after purchasing an additional 165,933 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Hess Midstream by 11.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after purchasing an additional 184,290 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HESM. Citigroup raised their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Hess Midstream presently has an average rating of "Moderate Buy" and an average target price of $42.80.

Hess Midstream Price Performance

NYSE:HESM traded down $0.10 during mid-day trading on Wednesday, hitting $38.00. 108,418 shares of the stock traded hands, compared to its average volume of 1,003,245. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12-month low of $33.59 and a 12-month high of $44.05. The business's 50-day moving average price is $37.97 and its 200 day moving average price is $38.82. The company has a market cap of $8.29 billion, a PE ratio of 15.24 and a beta of 0.67.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $384.28 million. During the same quarter in the previous year, the business earned $0.60 EPS. Hess Midstream's revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business 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 annualized dividend and a yield of 7.47%. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's payout ratio is 110.98%.

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.