Renaissance Technologies LLC Has $42.01 Million Position in Hess Midstream LP (NYSE:HESM)

Renaissance Technologies LLC lifted its stake in Hess Midstream LP (NYSE:HESM) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,134,495 shares of the company’s stock after buying an additional 30,200 shares during the period. Renaissance Technologies LLC’s holdings in Hess Midstream were worth $42,010,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its holdings in Hess Midstream by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after acquiring an additional 579 shares in the last quarter. US Bancorp DE raised its stake in shares of Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after purchasing an additional 510 shares in the last quarter. IFP Advisors Inc lifted its position in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after purchasing an additional 733 shares during the period. KBC Group NV boosted its stake in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company’s stock worth $187,000 after buying an additional 2,243 shares in the last quarter. Finally, South Street Advisors LLC increased its holdings in Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company’s stock valued at $231,000 after buying an additional 450 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hess Midstream Stock Down 3.9 %

HESM opened at $35.42 on Friday. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 14.22 and a beta of 1.14. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50-day simple moving average is $40.56 and its 200-day simple moving average is $38.20. Hess Midstream LP has a twelve month low of $32.75 and a twelve month high of $44.05.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently declared 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. This represents a $2.80 dividend on an annualized basis and a yield of 7.92%. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Analyst Ratings Changes

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

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.