Trexquant Investment LP Sells 27,467 Shares of Hess Midstream LP (NYSE:HESM)

Trexquant Investment LP decreased its stake in Hess Midstream LP (NYSE:HESM) by 10.9% during the 4th quarter, HoldingsChannel reports. The fund owned 224,031 shares of the company’s stock after selling 27,467 shares during the period. Trexquant Investment LP’s holdings in Hess Midstream were worth $8,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB lifted its stake in shares of Hess Midstream by 98.0% in the fourth quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock valued at $10,118,000 after buying an additional 134,171 shares during the period. Stifel Financial Corp raised its holdings in Hess Midstream by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after acquiring an additional 3,148 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Hess Midstream by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock worth $879,000 after acquiring an additional 10,175 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Hess Midstream by 11.9% during 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Hess Midstream by 9.4% during 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 purchasing an additional 17,261 shares during the period. Institutional investors own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hess Midstream Stock Down 4.1 %

HESM opened at $41.12 on Friday. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 16.51 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 $41.26 and its 200-day simple moving average is $38.21. 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 6.82%. 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%.

Insiders Place Their Bets

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.