Quantbot Technologies LP Lowers Holdings in Hess Midstream LP (NYSE:HESM)

Quantbot Technologies LP trimmed its position in shares of Hess Midstream LP (NYSE:HESM) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,582 shares of the company’s stock after selling 8,432 shares during the period. Quantbot Technologies LP’s holdings in Hess Midstream were worth $4,502,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Hess Midstream by 77.2% in the fourth 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 grew its holdings in shares of Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after buying an additional 510 shares during the last quarter. KBC Group NV grew its holdings 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 worth $99,000 after buying an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in Hess Midstream in the third quarter valued at about $100,000. Finally, IFP Advisors Inc lifted its position in 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. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HESM has been the subject of a number of research reports. 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 research report on Tuesday, February 4th. Raymond James boosted their price objective 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. Finally, Citigroup upped their target price 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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 on Wednesday, February 12th. The shares were 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 Trading Down 1.9 %

Shares of NYSE:HESM opened at $42.71 on Friday. The firm has a fifty day moving average of $40.88 and a two-hundred day moving average of $37.81. The firm has a market capitalization of $9.31 billion, a P/E ratio of 17.15 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping 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%. On average, equities analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 6.57%. Hess Midstream’s payout ratio is 112.45%.

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.