Cohen & Steers Inc. Has $30,000 Stock Holdings in Hess Midstream LP (NYSE:HESM)

Cohen & Steers Inc. lowered its position in shares of Hess Midstream LP (NYSE:HESM) by 99.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 801 shares of the company’s stock after selling 278,347 shares during the quarter. Cohen & Steers Inc.’s holdings in Hess Midstream were worth $30,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its stake in Hess Midstream by 4.9% in the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company’s stock worth $151,490,000 after purchasing an additional 191,175 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Hess Midstream by 11.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company’s stock worth $64,872,000 after purchasing an additional 184,290 shares during the period. Renaissance Technologies LLC raised its position in shares of Hess Midstream by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,134,495 shares of the company’s stock valued at $42,010,000 after buying an additional 30,200 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company’s stock valued at $31,520,000 after buying an additional 90,521 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Hess Midstream by 54.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company’s stock worth $24,254,000 after buying an additional 222,358 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. 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 report on Thursday, March 27th. Finally, Raymond James upped their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hess Midstream Stock Up 1.1 %

Shares of NYSE HESM opened at $36.90 on Wednesday. The stock has a 50-day moving average price of $40.28 and a two-hundred day moving average price of $38.22. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 14.82 and a beta of 1.14.

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

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a dividend of $0.7012 per share. The ex-dividend date was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 7.60%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is currently 112.45%.

Hess Midstream 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.