Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 6,260,000 shares, a growth of 44.9% from the February 28th total of 4,320,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 2.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Hess Midstream Stock Down 0.5 %

Hess Midstream stock traded down $0.22 during midday trading on Monday, hitting $42.28. The stock had a trading volume of 838,865 shares, compared to its average volume of 970,439. The business has a fifty day moving average price of $41.18 and a 200 day moving average price of $38.11. Hess Midstream has a 12 month low of $32.75 and a 12 month high of $44.05. The stock has a market cap of $9.22 billion, a P/E ratio of 16.98 and a beta of 1.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

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

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 yield of 6.63%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Insider Activity

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the 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 document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Hess Midstream

Several institutional investors have recently made changes to their positions in HESM. California State Teachers Retirement System increased its position in Hess Midstream by 12.3% in the fourth quarter. California State Teachers Retirement System now owns 89,624 shares of the company’s stock worth $3,319,000 after buying an additional 9,808 shares during the period. Investment Management Corp VA ADV bought a new position in Hess Midstream in the 4th quarter worth approximately $315,000. Zimmer Partners LP bought a new stake in Hess Midstream during the 4th quarter valued at $23,415,000. Zurich Insurance Group Ltd FI acquired a new position in Hess Midstream during the 4th quarter worth $1,255,000. Finally, WBI Investments LLC increased its holdings in shares of Hess Midstream by 2.5% during the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company’s stock valued at $678,000 after purchasing an additional 446 shares during the period. 98.97% of the stock is owned by institutional investors.

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.