Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the recipient of a significant decline in short interest in 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. Approximately 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HESM shares. Raymond James upped 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. Wells Fargo & Company upped their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Citigroup upped their target price on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Hess Midstream

Several institutional investors have recently added to or reduced their stakes in the company. Yaupon Capital Management LP acquired a new position in Hess Midstream in the 3rd quarter worth about $44,088,000. Zimmer Partners LP bought a new position in Hess Midstream during the fourth quarter worth $23,415,000. HITE Hedge Asset Management LLC acquired a new position in Hess Midstream in the fourth quarter valued at $19,642,000. Deutsche Bank AG lifted its holdings in Hess Midstream by 56.3% in the fourth quarter. Deutsche Bank AG now owns 1,405,510 shares of the company’s stock valued at $52,046,000 after buying an additional 506,430 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hess Midstream by 11.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock valued at $185,560,000 after buying an additional 496,464 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Price Performance

Shares of NYSE:HESM traded up $1.10 during midday trading on Monday, reaching $43.19. The company’s stock had a trading volume of 1,198,197 shares, compared to its average volume of 897,577. The business’s fifty day simple moving average is $40.36 and its 200-day simple moving average is $37.60. 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 company has a market capitalization of $9.42 billion, a P/E ratio of 17.35 and a beta of 1.48. Hess Midstream has a fifty-two week low of $32.75 and a fifty-two week high of $43.53.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating 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%. As a group, equities research analysts expect that Hess Midstream will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a dividend of $0.7012 per share. The ex-dividend date 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 dividend yield of 6.49%. Hess Midstream’s payout ratio is presently 112.45%.

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.