Hess Midstream LP (NYSE:HESM) Sees Large Increase in Short Interest

Hess Midstream LP (NYSE:HESM) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,120,000 shares, a growth of 26.9% from the December 15th total of 5,610,000 shares. Based on an average trading volume of 780,400 shares, the days-to-cover ratio is presently 9.1 days.

Hess Midstream Stock Up 2.2 %

NYSE HESM traded up $0.90 on Friday, hitting $41.20. 1,042,482 shares of the company were exchanged, compared to its average volume of 852,611. 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 cap of $8.98 billion, a PE ratio of 17.46 and a beta of 1.52. The stock has a fifty day moving average of $37.01 and a 200-day moving average of $36.56. Hess Midstream has a 12 month low of $32.03 and a 12 month high of $41.37.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same period last year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Hess Midstream will post 2.41 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 6.65%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream’s dividend payout ratio (DPR) is 116.10%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tompkins Financial Corp bought a new position in Hess Midstream during the 3rd quarter valued at $71,000. KBC Group NV lifted its position in shares of Hess Midstream by 83.9% during the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in Hess Midstream during the third quarter worth about $100,000. Icon Wealth Advisors LLC grew its position in Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Hess Midstream by 487.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after buying an additional 2,793 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

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.