Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 4,320,000 shares, a drop of 35.5% from the February 13th total of 6,700,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 2.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hess Midstream has an average rating of “Moderate Buy” and an average target price of $42.00.

Hess Midstream Price Performance

Shares of NYSE HESM traded up $1.42 during mid-day trading on Friday, reaching $42.10. 1,225,339 shares of the company traded hands, compared to its average volume of 914,109. Hess Midstream has a fifty-two week low of $32.75 and a fifty-two week high of $42.31. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $9.18 billion, a PE ratio of 16.91 and a beta of 1.48. The stock has a fifty day simple moving average of $40.36 and a 200-day simple moving average of $37.58.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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 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. Shareholders of record on Thursday, February 6th were given a $0.7012 dividend. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.66%. Hess Midstream’s payout ratio is 112.45%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream 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 SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. apricus wealth LLC grew its position in Hess Midstream by 1.4% in the fourth quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock worth $685,000 after buying an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC grew its position in Hess Midstream by 2.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock worth $483,000 after buying an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Hess Midstream by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock worth $439,000 after buying an additional 298 shares during the last quarter. Seelaus Asset Management LLC grew its position in Hess Midstream by 5.5% in the third quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after buying an additional 300 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its position in Hess Midstream by 11.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock worth $116,000 after buying an additional 329 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

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.