Hess Midstream LP (NYSE:HESM) Short Interest Down 35.5% in February

Hess Midstream LP (NYSE:HESM) was the target of 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 company’s stock are short sold.

Hess Midstream Stock Performance

HESM traded up $1.42 during trading on Friday, hitting $42.10. The stock had a trading volume of 1,225,339 shares, compared to its average volume of 901,152. The firm has a market cap of $9.18 billion, a PE ratio of 16.91 and a beta of 1.48. 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 has a 12 month low of $32.75 and a 12 month high of $42.31. The company has a 50 day simple moving average of $40.36 and a 200-day simple moving average of $37.60.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping 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%. Analysts expect that Hess Midstream will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently announced 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 6.66%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is 112.45%.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was 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 accessible through the SEC website.

Hedge Funds Weigh In On Hess Midstream

Large investors have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. raised its position in shares of Hess Midstream by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company’s stock valued at $280,728,000 after buying an additional 83,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hess Midstream by 11.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company’s stock valued at $185,560,000 after acquiring an additional 496,464 shares in the last quarter. Invesco Ltd. lifted its position in shares of 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 acquiring an additional 191,175 shares during the period. Epoch Investment Partners Inc. grew its holdings in shares of Hess Midstream by 5.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company’s stock worth $122,553,000 after purchasing an additional 165,933 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in shares of Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock worth $93,131,000 after purchasing an additional 194,154 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HESM shares. Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. 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 report on Tuesday, February 4th. Finally, Citigroup upped their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock 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 stock. According to data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.