AlphaQuest LLC Sells 14,256 Shares of Hess Midstream LP (NYSE:HESM)

AlphaQuest LLC decreased its stake in shares of Hess Midstream LP (NYSE:HESM) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,281 shares of the company’s stock after selling 14,256 shares during the quarter. AlphaQuest LLC’s holdings in Hess Midstream were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HESM. Amundi boosted its stake in Hess Midstream by 7.5% during the fourth quarter. Amundi now owns 8,926 shares of the company’s stock valued at $343,000 after buying an additional 626 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Hess Midstream by 6.4% during the 4th quarter. Lindbrook Capital LLC now owns 22,935 shares of the company’s stock worth $849,000 after acquiring an additional 1,377 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Hess Midstream during the 4th quarter valued at approximately $12,976,000. Arizona State Retirement System grew its holdings in shares of Hess Midstream by 14.1% in the fourth quarter. Arizona State Retirement System now owns 30,203 shares of the company’s stock valued at $1,118,000 after purchasing an additional 3,736 shares in the last quarter. Finally, Westover Capital Advisors LLC grew its holdings in shares of Hess Midstream by 4.7% in the fourth quarter. Westover Capital Advisors LLC now owns 82,513 shares of the company’s stock valued at $3,055,000 after purchasing an additional 3,695 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup increased their price objective 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 upped their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price target 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Hess Midstream Price Performance

Hess Midstream stock opened at $40.39 on Friday. The firm has a market capitalization of $8.80 billion, a PE ratio of 16.22 and a beta of 1.48. Hess Midstream LP has a 12-month low of $32.75 and a 12-month high of $42.31. The firm has a 50-day moving average price of $40.00 and a 200-day moving average price of $37.45. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

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, beating the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. As a group, equities research analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. This represents a $2.80 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is 112.45%.

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.