Susquehanna Fundamental Investments LLC Makes New $4.53 Million Investment in Hess Midstream LP (NYSE:HESM)

Susquehanna Fundamental Investments LLC bought a new stake in Hess Midstream LP (NYSE:HESM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 122,414 shares of the company’s stock, valued at approximately $4,533,000.

A number of other hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its position in Hess Midstream by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after acquiring an additional 579 shares during the last quarter. US Bancorp DE increased its position in shares of 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 purchasing an additional 510 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Hess Midstream by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after purchasing an additional 733 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Hess Midstream by 9.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock valued at $184,000 after purchasing an additional 432 shares during the period. Finally, KBC Group NV grew its stake in Hess Midstream by 80.0% during the 4th quarter. KBC Group NV now owns 5,046 shares of the company’s stock worth $187,000 after buying an additional 2,243 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HESM has been the subject of a number of research reports. Raymond James boosted their price objective on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Citigroup raised their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their target price 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Hess Midstream Stock Performance

NYSE:HESM opened at $38.88 on Tuesday. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average price is $39.87 and its 200 day moving average price is $38.36. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 15.61 and a beta of 1.14.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) 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%. On average, sell-side analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.