Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 5,030,000 shares, a growth of 9.1% from the June 30th total of 4,610,000 shares. Based on an average trading volume of 950,400 shares, the short-interest ratio is presently 5.3 days.

Hess Midstream Price Performance

Shares of HESM opened at $37.48 on Thursday. The company has a debt-to-equity ratio of 8.67, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $8.38 billion, a PE ratio of 16.96 and a beta of 1.52. The stock has a 50 day simple moving average of $36.45 and a 200 day simple moving average of $35.24. Hess Midstream has a 52-week low of $27.57 and a 52-week high of $39.11.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th will be issued a $0.6677 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.13%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, August 8th. Hess Midstream’s payout ratio is 118.10%.

Analysts Set New Price Targets

A number of brokerages have commented on HESM. JPMorgan Chase & Co. increased their price objective on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company upped their target price on shares of Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, UBS Group raised their price objective on shares of Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Three 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

Insiders Place Their Bets

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $34.02, for a total transaction of $51,030,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Naples Global Advisors LLC increased its stake in shares of Hess Midstream by 0.5% during the 2nd quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC raised its holdings in Hess Midstream by 5.2% in the 1st quarter. ProShare Advisors LLC now owns 6,746 shares of the company’s stock valued at $244,000 after acquiring an additional 332 shares during the period. Granite Group Advisors LLC boosted its holdings in shares of Hess Midstream by 5.6% during the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock worth $257,000 after acquiring an additional 375 shares during the period. Comerica Bank increased its stake in shares of Hess Midstream by 7.4% during the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after purchasing an additional 385 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its holdings in Hess Midstream by 5.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 8,957 shares of the company’s stock worth $283,000 after purchasing an additional 484 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

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.