Hess Midstream LP (NYSE:HESM) Stock Position Decreased by Trexquant Investment LP

Trexquant Investment LP cut its stake in shares of Hess Midstream LP (NYSE:HESM) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,031 shares of the company’s stock after selling 27,467 shares during the period. Trexquant Investment LP owned approximately 0.10% of Hess Midstream worth $8,296,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Alliancebernstein L.P. purchased a new stake in Hess Midstream during the fourth quarter valued at about $1,944,000. Clearbridge Investments LLC lifted its position in shares of Hess Midstream by 11.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company’s stock valued at $64,872,000 after acquiring an additional 184,290 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Hess Midstream by 54.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company’s stock worth $24,254,000 after purchasing an additional 222,358 shares during the period. Schroder Investment Management Group grew its position in Hess Midstream by 26.9% during the 4th quarter. Schroder Investment Management Group now owns 398,339 shares of the company’s stock worth $14,743,000 after purchasing an additional 84,461 shares in the last quarter. Finally, Norges Bank acquired a new stake in Hess Midstream during the 4th quarter valued at $7,069,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HESM. Raymond James lifted their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Citigroup raised their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price objective on shares of 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Hess Midstream Stock Down 4.1 %

HESM opened at $41.12 on Friday. The company has a market capitalization of $8.96 billion, a PE ratio of 16.51 and a beta of 1.14. 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 fifty-two week low of $32.75 and a fifty-two week high of $44.05. The business has a 50-day moving average of $41.26 and a 200-day moving average of $38.21.

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

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.82%. The ex-dividend date was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is presently 112.45%.

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.