Zimmer Partners LP Invests $23.42 Million in Hess Midstream LP (NYSE:HESM)

Zimmer Partners LP bought a new position in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 632,316 shares of the company's stock, valued at approximately $23,415,000. Zimmer Partners LP owned approximately 0.29% of Hess Midstream as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HESM. Stokes Capital Advisors LLC raised its position in shares of Hess Midstream by 1.2% during the 4th quarter. Stokes Capital Advisors LLC now owns 148,762 shares of the company's stock worth $5,509,000 after acquiring an additional 1,725 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Hess Midstream by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,970 shares of the company's stock worth $517,000 after buying an additional 1,024 shares during the period. Teamwork Financial Advisors LLC increased its position in Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company's stock worth $483,000 after buying an additional 286 shares during the period. apricus wealth LLC increased its position in Hess Midstream by 1.4% during the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock worth $685,000 after buying an additional 250 shares during the period. Finally, KBC Group NV increased its position in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after buying an additional 2,243 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HESM shares. JPMorgan Chase & Co. lifted their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. 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 report on Tuesday, January 28th. Wells Fargo & Company cut their price target on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup lifted their price target on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hess Midstream presently has an average rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Trading Down 2.4%

NYSE:HESM opened at $37.95 on Tuesday. The firm has a market cap of $8.27 billion, a P/E ratio of 15.24 and a beta of 0.67. 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 stock's 50 day simple moving average is $39.01 and its 200-day simple moving average is $38.61. Hess Midstream LP has a 12-month low of $33.59 and a 12-month high of $44.05.

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. The business had revenue of $382.00 million for 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%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.48%. This is a positive change from Hess Midstream's previous quarterly dividend of $0.70. Hess Midstream's payout ratio is presently 110.98%.

About Hess Midstream

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.