Hess Midstream LP (NYSE:HESM) Major Shareholder Sells $430,210,000.00 in Stock

Hess Midstream LP (NYSE:HESM) major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Hess Midstream Stock Performance

Hess Midstream stock opened at $39.83 on Friday. The stock has a market cap of $8.68 billion, a P/E ratio of 16.00 and a beta of 1.53. 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 stock has a 50 day moving average of $38.70 and a 200-day moving average of $36.97. Hess Midstream LP has a 52 week low of $32.73 and a 52 week high of $42.15.

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, beating 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%. On average, analysts expect that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently declared 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. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream’s dividend payout ratio is currently 112.45%.

Institutional Investors Weigh In On Hess Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in shares of Hess Midstream during the 4th quarter valued at approximately $262,000. Northern Trust Corp raised its position in shares of Hess Midstream by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company’s stock valued at $3,168,000 after acquiring an additional 12,939 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Hess Midstream in the fourth quarter worth $1,308,000. Susquehanna Fundamental Investments LLC acquired a new stake in Hess Midstream in the fourth quarter worth $4,533,000. Finally, Virtus ETF Advisers LLC increased its position in Hess Midstream by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock worth $184,000 after buying an additional 432 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HESM has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Raymond James upped their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th.

About Hess Midstream

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.