Krane Funds Advisors LLC Reduces Stock Holdings in Hess Midstream LP (NYSE:HESM)

Krane Funds Advisors LLC lessened its holdings in shares of Hess Midstream LP (NYSE:HESM) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,435 shares of the company’s stock after selling 272 shares during the period. Krane Funds Advisors LLC’s holdings in Hess Midstream were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in shares of Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after buying an additional 579 shares during the last quarter. US Bancorp DE grew its holdings in Hess Midstream by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 510 shares during the period. IFP Advisors Inc raised its position in Hess Midstream by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after acquiring an additional 733 shares in the last quarter. KBC Group NV lifted its holdings in Hess Midstream by 80.0% in the fourth quarter. KBC Group NV now owns 5,046 shares of the company’s stock valued at $187,000 after acquiring an additional 2,243 shares during the period. Finally, South Street Advisors LLC boosted its position in Hess Midstream by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company’s stock worth $231,000 after purchasing an additional 450 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hess Midstream Trading Down 9.5 %

Shares of HESM opened at $37.22 on Monday. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $44.05. The stock has a market cap of $8.11 billion, a PE ratio of 14.95 and a beta of 1.14. The firm’s fifty day moving average is $41.17 and its two-hundred day moving average is $38.23. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data 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 net margin of 14.92% and a return on equity of 54.59%. Research analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were issued a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 7.54%. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio (DPR) is currently 112.45%.

Analysts Set New Price Targets

HESM has been the subject of several analyst reports. 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 research note on Tuesday, February 18th. Wells Fargo & Company increased their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.