Financial Sense Advisors Inc. Purchases 84,085 Shares of Hess Midstream LP (NYSE:HESM)

Financial Sense Advisors Inc. grew its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 150.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,801 shares of the company's stock after acquiring an additional 84,085 shares during the period. Hess Midstream accounts for approximately 1.7% of Financial Sense Advisors Inc.'s investment portfolio, making the stock its 11th biggest holding. Financial Sense Advisors Inc. owned approximately 0.06% of Hess Midstream worth $5,177,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP boosted its stake in Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company's stock valued at $93,131,000 after purchasing an additional 194,154 shares during the last quarter. Yaupon Capital Management LP bought a new position in shares of Hess Midstream during the 3rd quarter worth approximately $44,088,000. Artemis Investment Management LLP lifted its position in shares of Hess Midstream by 11.9% during the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after buying an additional 90,521 shares in the last quarter. Infrastructure Capital Advisors LLC lifted its position in shares of Hess Midstream by 24.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 614,771 shares of the company's stock worth $21,683,000 after buying an additional 121,342 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Hess Midstream by 34.7% during the 4th quarter. Jennison Associates LLC now owns 587,496 shares of the company's stock worth $21,755,000 after buying an additional 151,220 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hess Midstream Stock Down 1.5 %

HESM traded down $0.60 during midday trading on Friday, reaching $40.66. The company's stock had a trading volume of 1,089,414 shares, compared to its average volume of 1,348,307. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 16.33 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. Hess Midstream LP has a 1 year low of $32.75 and a 1 year high of $42.15. The stock's 50-day moving average is $39.17 and its 200-day moving average is $37.11.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. As a group, research analysts expect that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.90%. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's payout ratio is presently 112.45%.

Analyst Ratings Changes

A number of research firms recently weighed in on HESM. Wells Fargo & Company lifted their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Citigroup upped their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Raymond James upped their target price on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Hess Midstream has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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.