Seven Eight Capital LP Has $308,000 Position in Hess Midstream LP (NYSE:HESM)

Seven Eight Capital LP lowered its position in shares of Hess Midstream LP (NYSE:HESM) by 83.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,516 shares of the company’s stock after selling 43,075 shares during the quarter. Seven Eight Capital LP’s holdings in Hess Midstream were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HESM. TD Asset Management Inc boosted its holdings in shares of Hess Midstream by 190.8% in the fourth quarter. TD Asset Management Inc now owns 2,335,957 shares of the company’s stock valued at $73,886,000 after buying an additional 1,532,700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hess Midstream by 38.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,167,876 shares of the company’s stock valued at $100,200,000 after buying an additional 887,859 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Hess Midstream by 82.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,792,886 shares of the company’s stock worth $56,709,000 after purchasing an additional 811,976 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Hess Midstream by 55.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 1,305,561 shares of the company’s stock worth $47,170,000 after purchasing an additional 467,601 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Hess Midstream during the fourth quarter worth $14,133,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Insider Activity

In other news, Director Infrastructure Investor Global sold 1,500,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $34.02, for a total value of $51,030,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

HESM has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, UBS Group upped their price target on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

Hess Midstream Stock Performance

NYSE HESM opened at $37.50 on Thursday. The firm has a market capitalization of $8.38 billion, a P/E ratio of 16.97 and a beta of 1.52. The firm’s fifty day moving average price is $36.26 and its two-hundred day moving average price is $35.04. Hess Midstream LP has a 1 year low of $27.57 and a 1 year high of $39.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 8.67.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $355.60 million for the quarter, compared to analyst estimates of $354.98 million. Hess Midstream had a net margin of 10.18% and a return on equity of 35.08%. As a group, research analysts anticipate that Hess Midstream LP will post 2.26 EPS for the current year.

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.