Hess Midstream LP (NYSE:HESM) Short Interest Update

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

Hess Midstream Price Performance

HESM traded up $1.10 on Monday, reaching $43.19. 1,198,197 shares of the company’s stock were exchanged, compared to its average volume of 897,577. 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’s fifty day moving average price is $40.36 and its 200-day moving average price is $37.60. Hess Midstream has a twelve month low of $32.75 and a twelve month high of $43.53. The stock has a market cap of $9.42 billion, a PE ratio of 17.35 and a beta of 1.48.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Sell-side analysts expect 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. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is 112.45%.

Analyst Ratings Changes

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

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in shares of Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after buying an additional 579 shares during the last quarter. US Bancorp DE lifted its stake in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 510 shares during the period. KBC Group NV lifted its stake in shares of Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream in the third quarter valued at about $100,000. Finally, IFP Advisors Inc lifted its stake in shares of Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

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.