Short Interest in Hess Midstream LP (NYSE:HESM) Expands By 26.9%

Hess Midstream LP (NYSE:HESM) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 7,120,000 shares, a growth of 26.9% from the December 15th total of 5,610,000 shares. Based on an average trading volume of 780,400 shares, the days-to-cover ratio is currently 9.1 days.

Hess Midstream Stock Performance

HESM traded up $0.90 during trading on Friday, hitting $41.20. The stock had a trading volume of 1,042,482 shares, compared to its average volume of 852,611. The firm has a market cap of $8.98 billion, a PE ratio of 17.46 and a beta of 1.52. Hess Midstream has a 12 month low of $32.03 and a 12 month high of $41.37. 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 company has a 50 day simple moving average of $37.01 and a 200-day simple moving average of $36.56.

Hess Midstream (NYSE:HESM) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same quarter last year, the firm posted $0.57 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Hess Midstream will post 2.41 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 annualized dividend and a dividend yield of 6.65%. Hess Midstream’s payout ratio is presently 116.10%.

Insider Buying and Selling

In related news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HESM. Tompkins Financial Corp bought a new position in shares of Hess Midstream during the 3rd quarter worth about $71,000. KBC Group NV boosted its position in shares of Hess Midstream by 83.9% during the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock valued at $99,000 after acquiring an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Hess Midstream during the 3rd quarter valued at about $100,000. Icon Wealth Advisors LLC boosted its position in shares of Hess Midstream by 11.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company’s stock valued at $116,000 after acquiring an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Hess Midstream by 487.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company’s stock valued at $119,000 after acquiring an additional 2,793 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

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.