Schonfeld Strategic Advisors LLC Sells 12,232 Shares of Hess Midstream LP (NYSE:HESM)

Schonfeld Strategic Advisors LLC lessened its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,269 shares of the company's stock after selling 12,232 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Hess Midstream were worth $1,602,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after acquiring an additional 134,171 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Hess Midstream by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock valued at $879,000 after purchasing an additional 10,175 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Hess Midstream during the fourth quarter worth $525,000. Artemis Investment Management LLP increased its position in shares of Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after buying an additional 90,521 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Hess Midstream during the fourth quarter worth $8,786,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HESM shares. JPMorgan Chase & Co. increased their price target on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company decreased their target price on Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Citigroup boosted 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. Finally, Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Stock Up 2.8%

Shares of HESM traded up $1.04 during trading hours on Monday, reaching $38.04. The stock had a trading volume of 152,538 shares, compared to its average volume of 987,427. The firm has a 50-day simple moving average of $39.22 and a 200 day simple moving average of $38.46. Hess Midstream LP has a 12 month low of $33.59 and a 12 month high of $44.05. 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 company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 15.24 and a beta of 0.67.

Hess Midstream (NYSE:HESM - Get Free Report) last posted 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. The company had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. Equities research analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.7098 per share. The ex-dividend date of this dividend 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 yield of 7.46%. Hess Midstream's dividend payout ratio (DPR) is 110.98%.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Company 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.