Clearbridge Investments LLC Buys 184,290 Shares of Hess Midstream LP (NYSE:HESM)

Clearbridge Investments LLC raised its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,751,875 shares of the company's stock after purchasing an additional 184,290 shares during the quarter. Clearbridge Investments LLC owned about 0.80% of Hess Midstream worth $64,872,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing 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 acquiring an additional 510 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Hess Midstream during the third quarter worth about $100,000. IFP Advisors Inc increased its holdings in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock valued at $109,000 after buying an additional 733 shares during the last quarter. Finally, KBC Group NV lifted its stake in Hess Midstream by 80.0% during the fourth quarter. KBC Group NV now owns 5,046 shares of the company's stock worth $187,000 after purchasing an additional 2,243 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Hess Midstream

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 document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HESM. Citigroup lifted their price objective on shares of Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Hess Midstream Stock Down 9.5 %

Hess Midstream stock traded down $3.91 during mid-day trading on Friday, hitting $37.22. The company's stock had a trading volume of 1,491,947 shares, compared to its average volume of 978,699. The firm's 50 day moving average is $41.17 and its 200 day moving average is $38.22. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $44.05. The company has a market cap of $8.11 billion, a PE ratio of 14.95 and a beta of 1.14.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (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%. On average, analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 7.54%. Hess Midstream's payout ratio is currently 112.45%.

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.