Hess Midstream LP (NYSE:HESM) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its stake in Hess Midstream LP (NYSE:HESM) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,447 shares of the company’s stock after acquiring an additional 5,183 shares during the period. MML Investors Services LLC’s holdings in Hess Midstream were worth $3,016,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in HESM. Nordea Investment Management AB boosted its holdings in shares of Hess Midstream by 98.0% during the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after acquiring an additional 134,171 shares during the period. Van ECK Associates Corp boosted its stake in Hess Midstream by 75.1% during the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock valued at $879,000 after purchasing an additional 10,175 shares during the period. Artemis Investment Management LLP grew its position in Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock worth $31,520,000 after purchasing an additional 90,521 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Hess Midstream in the fourth quarter valued at approximately $8,786,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Hess Midstream by 6.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company’s stock valued at $14,920,000 after buying an additional 23,844 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Trading Down 0.3 %

Shares of HESM stock opened at $38.85 on Monday. The stock has a 50-day simple moving average of $39.91 and a 200 day simple moving average of $38.34. The stock has a market capitalization of $8.47 billion, a P/E ratio of 15.60 and a beta of 1.14. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last posted 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 net margin of 14.92% and a return on equity of 54.59%. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on HESM. Raymond James raised their target price on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Citigroup upped their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available through this link.

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.