Two Sigma Investments LP Sells 15,991 Shares of Hess Midstream LP (NYSE:HESM)

Two Sigma Investments LP trimmed its position in Hess Midstream LP (NYSE:HESM - Free Report) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its stake in Hess Midstream by 1.1% in the 4th 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hess Midstream by 11.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock worth $185,560,000 after acquiring an additional 496,464 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hess Midstream by 4.9% during the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after acquiring an additional 191,175 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Hess Midstream by 5.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock worth $122,553,000 after acquiring an additional 165,933 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Hess Midstream by 11.8% during the fourth 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. 98.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on HESM. Wells Fargo & Company decreased 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 report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective 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. Finally, Citigroup increased their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hess Midstream currently has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Hess Midstream Price Performance

Shares of HESM traded down $0.54 during trading hours on Wednesday, hitting $37.56. The stock had a trading volume of 1,054,972 shares, compared to its average volume of 1,005,882. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 15.08 and a beta of 0.67. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The company's fifty day moving average is $37.87 and its two-hundred day moving average is $38.81. Hess Midstream LP has a 52 week low of $33.59 and a 52 week high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate 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 dividend of $0.7098 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.56%. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, May 8th. Hess Midstream's payout ratio is 110.98%.

Insider Activity at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction dated Friday, May 30th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website.

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.