Ghisallo Capital Management LLC Has $12.96 Million Stock Position in Hess Midstream LP (NYSE:HESM)

Ghisallo Capital Management LLC lessened its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,000 shares of the company's stock after selling 350,000 shares during the period. Hess Midstream makes up about 0.8% of Ghisallo Capital Management LLC's portfolio, making the stock its 26th largest holding. Ghisallo Capital Management LLC owned approximately 0.16% of Hess Midstream worth $12,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HESM. Steward Partners Investment Advisory LLC lifted its stake in Hess Midstream by 77.2% in 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 last quarter. US Bancorp DE lifted its stake in Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after purchasing an additional 510 shares during the last quarter. IFP Advisors Inc lifted its stake in Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake 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 purchasing an additional 432 shares during the last quarter. Finally, KBC Group NV lifted its stake in Hess Midstream by 80.0% in the 4th quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after purchasing an additional 2,243 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Trading Down 1.3 %

Shares of HESM traded down $0.47 during trading hours on Thursday, hitting $36.70. 268,416 shares of the stock were exchanged, compared to its average volume of 1,204,889. Hess Midstream LP has a fifty-two week low of $33.53 and a fifty-two week high of $44.05. 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 business has a 50-day moving average of $39.74 and a 200-day moving average of $38.35. The firm has a market capitalization of $8.00 billion, a P/E ratio of 14.74 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $384.28 million. During the same period in the prior year, the company posted $0.60 earnings per share. Hess Midstream's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.7098 per share. The ex-dividend date is Thursday, May 8th. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 7.74%. Hess Midstream's dividend payout ratio is 112.45%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Citigroup raised their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company dropped 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 research note on Thursday. 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, Hess Midstream presently has an average rating of "Moderate Buy" and an average target price of $42.80.

Insider Transactions at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.