Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 7,120,000 shares, an increase of 26.9% from the December 15th total of 5,610,000 shares. Based on an average daily volume of 780,400 shares, the days-to-cover ratio is presently 9.1 days.

Hess Midstream Stock Performance

Shares of NYSE HESM traded up $0.90 during trading on Friday, reaching $41.20. 1,042,482 shares of the stock traded hands, compared to its average volume of 852,611. The company has a 50-day moving average of $37.01 and a 200-day moving average of $36.56. Hess Midstream has a 52-week low of $32.03 and a 52-week high of $41.37. The stock has a market capitalization of $8.98 billion, a P/E ratio of 17.46 and a beta of 1.52. 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 (NYSE:HESM) last issued its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Hess Midstream will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 6.65%. Hess Midstream’s payout ratio is presently 116.10%.

Insider Activity

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Hess Midstream

A number of large investors have recently made changes to their positions in HESM. Teamwork Financial Advisors LLC lifted its holdings in Hess Midstream by 2.2% during the 4th quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock worth $483,000 after purchasing an additional 286 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Hess Midstream by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,970 shares of the company’s stock worth $517,000 after buying an additional 1,024 shares in the last quarter. Stokes Capital Advisors LLC boosted its position in shares of Hess Midstream by 1.2% in the fourth quarter. Stokes Capital Advisors LLC now owns 148,762 shares of the company’s stock valued at $5,509,000 after acquiring an additional 1,725 shares during the period. Artemis Investment Management LLP grew its stake in 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 acquiring an additional 90,521 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. increased its holdings in Hess Midstream by 23.7% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 29,460 shares of the company’s stock worth $1,090,000 after acquiring an additional 5,650 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.