Short Interest in Hess Midstream LP (NYSE:HESM) Rises By 44.9%

Hess Midstream LP (NYSE:HESM) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 6,260,000 shares, an increase of 44.9% from the February 28th total of 4,320,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 4.9 days.

Hess Midstream Trading Up 0.3 %

Shares of NYSE:HESM traded up $0.14 during mid-day trading on Friday, hitting $42.51. The company had a trading volume of 754,386 shares, compared to its average volume of 970,965. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream has a one year low of $32.75 and a one year high of $44.05. The firm has a fifty day moving average price of $41.16 and a 200 day moving average price of $38.07. The company has a market capitalization of $9.27 billion, a PE ratio of 17.07 and a beta of 1.48.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Hess Midstream 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 paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.60%. 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. Hess Midstream’s dividend payout ratio (DPR) is 112.45%.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Hess Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in the business. apricus wealth LLC boosted its stake in Hess Midstream by 1.4% during the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock valued at $685,000 after purchasing an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC boosted its position in shares of Hess Midstream by 2.2% during the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock valued at $483,000 after buying an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Hess Midstream by 2.6% during 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 in the last quarter. Icon Wealth Advisors LLC raised its position in Hess Midstream by 11.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after buying an additional 329 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Hess Midstream by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company’s stock valued at $294,000 after acquiring an additional 429 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Raymond James increased their price objective 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, Citigroup boosted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Hess Midstream presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.