Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the target of a large 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. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 4.9 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup upped 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. Raymond James lifted their target price on shares of 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. increased their price objective 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling

In other 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 value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Hess Midstream

A number of institutional investors have recently made changes to their positions in HESM. Nordea Investment Management AB increased its position in Hess Midstream by 98.0% in the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after buying an additional 134,171 shares during the period. Stifel Financial Corp grew its position in Hess Midstream by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock worth $405,000 after purchasing an additional 3,148 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Hess Midstream by 75.1% during the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock worth $879,000 after purchasing an additional 10,175 shares during the period. Artemis Investment Management LLP raised its position in shares of Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after buying an additional 90,521 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hess Midstream by 9.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company’s stock valued at $7,093,000 after buying an additional 17,261 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Stock Down 0.5 %

Shares of NYSE:HESM traded down $0.22 on Monday, reaching $42.28. The company had a trading volume of 838,865 shares, compared to its average volume of 970,439. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market capitalization of $9.22 billion, a P/E ratio of 16.98 and a beta of 1.48. The stock has a 50-day moving average price of $41.18 and a 200 day moving average price of $38.11. Hess Midstream has a twelve month low of $32.75 and a twelve month high of $44.05.

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

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.63%. Hess Midstream’s payout ratio is currently 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.