Jump Financial LLC Lowers Stock Position in Hess Midstream LP (NYSE:HESM)

Jump Financial LLC lowered its holdings in Hess Midstream LP (NYSE:HESM - Free Report) by 79.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,902 shares of the company's stock after selling 78,453 shares during the period. Jump Financial LLC's holdings in Hess Midstream were worth $774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its stake in shares of Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE raised its stake in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares in the last quarter. IFP Advisors Inc raised its stake in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after buying an additional 733 shares in the last quarter. KBC Group NV raised its stake in Hess Midstream by 80.0% in the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock valued at $187,000 after buying an additional 2,243 shares in the last quarter. Finally, South Street Advisors LLC raised its stake in Hess Midstream by 7.8% in the fourth quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock valued at $231,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Activity at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

HESM has been the topic of a number of analyst reports. Citigroup raised their price target on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James raised their price target on 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 Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company raised their price target on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Hess Midstream Stock Performance

Shares of HESM traded up $0.10 during midday trading on Monday, reaching $38.88. 590,702 shares of the stock were exchanged, compared to its average volume of 993,402. The business's 50-day moving average price is $39.87 and its 200 day moving average price is $38.36. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.61 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

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.