Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,500,000 shares, a growth of 6.6% from the October 15th total of 4,220,000 shares. Based on an average daily trading volume, of 860,300 shares, the short-interest ratio is presently 5.2 days.

Hess Midstream Trading Up 1.6 %

NYSE HESM traded up $0.55 during mid-day trading on Monday, hitting $35.89. The company’s stock had a trading volume of 832,094 shares, compared to its average volume of 893,203. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream has a 52-week low of $30.08 and a 52-week high of $39.11. The stock’s fifty day simple moving average is $35.59 and its two-hundred day simple moving average is $35.99. The firm has a market capitalization of $7.93 billion, a P/E ratio of 15.21 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts expect that Hess Midstream will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.63%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s dividend payout ratio (DPR) is 115.68%.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Hess Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Hess Midstream in the first quarter valued at approximately $30,000. Clear Point Advisors Inc. acquired a new stake in Hess Midstream during the 1st quarter valued at $49,000. Tompkins Financial Corp acquired a new stake in Hess Midstream during the 3rd quarter valued at $71,000. KBC Group NV increased its stake in Hess Midstream by 83.9% during the 3rd 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 period. Finally, Millburn Ridgefield Corp acquired a new position in Hess Midstream in the 3rd quarter worth $100,000. 92.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st.

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.