Hess Midstream LP (NYSE:HESM) Sees Significant Decrease in Short Interest

Hess Midstream LP (NYSE:HESM) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 4,320,000 shares, a drop of 35.5% from the February 13th total of 6,700,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is presently 3.7 days.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction 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 available through this hyperlink.

Institutional Trading of Hess Midstream

A number of institutional investors have recently bought and sold shares of HESM. Investment Management Corp VA ADV bought a new position in shares of Hess Midstream in the 4th quarter worth $315,000. Zimmer Partners LP acquired a new position in shares of Hess Midstream during the 4th quarter worth about $23,415,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Hess Midstream in the 4th quarter valued at about $1,255,000. WBI Investments LLC raised its position in shares of Hess Midstream by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company’s stock valued at $678,000 after acquiring an additional 446 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Hess Midstream during the 4th quarter worth approximately $1,684,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Trading Up 3.5 %

HESM traded up $1.42 during mid-day trading on Friday, reaching $42.10. The stock had a trading volume of 1,225,339 shares, compared to its average volume of 901,152. The firm’s fifty day simple moving average is $40.36 and its two-hundred day simple moving average is $37.60. The stock has a market capitalization of $9.18 billion, a P/E ratio of 16.91 and a beta of 1.48. Hess Midstream has a 52 week low of $32.75 and a 52 week high of $42.31. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data 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, equities analysts predict that Hess Midstream will post 2.5 EPS for the current 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 issued a $0.7012 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is currently 112.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HESM shares. Wells Fargo & Company lifted their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Raymond James lifted their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.