Russell Investments Group Ltd. Has $401,000 Holdings in Hess Midstream LP (NYSE:HESM)

Russell Investments Group Ltd. trimmed its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 79.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,838 shares of the company's stock after selling 41,859 shares during the quarter. Russell Investments Group Ltd.'s holdings in Hess Midstream were worth $401,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HESM. apricus wealth LLC grew its position in shares of Hess Midstream by 1.4% in the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company's stock valued at $685,000 after purchasing an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC lifted its holdings in shares of 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 last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Hess Midstream by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after purchasing an additional 298 shares in the last quarter. Hardy Reed LLC raised its stake in shares of Hess Midstream by 5.3% in the fourth quarter. Hardy Reed LLC now owns 8,990 shares of the company's stock valued at $333,000 after purchasing an additional 450 shares in the last quarter. Finally, South Street Advisors LLC raised its stake in shares of 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 purchasing an additional 450 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Price Performance

Shares of HESM stock traded down $0.25 during trading hours on Tuesday, hitting $38.65. 40,210 shares of the company's stock were exchanged, compared to its average volume of 989,669. The stock's 50-day moving average is $39.87 and its 200-day moving average 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. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 15.52 and a beta of 1.14. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Insider Activity 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 dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of recent research reports. Citigroup upped their target price on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

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.