Hess Midstream LP (NYSE:HESM) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in Hess Midstream LP (NYSE:HESM - Free Report) by 61.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,539 shares of the company's stock after buying an additional 7,781 shares during the quarter. Sanctuary Advisors LLC's holdings in Hess Midstream were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HESM. Creative Planning increased its holdings in shares of Hess Midstream by 32.6% in the 3rd quarter. Creative Planning now owns 7,390 shares of the company's stock valued at $261,000 after acquiring an additional 1,815 shares during the period. Raymond James & Associates grew its stake in Hess Midstream by 230.7% in the third quarter. Raymond James & Associates now owns 119,488 shares of the company's stock valued at $4,214,000 after purchasing an additional 83,358 shares during the last quarter. Stephens Inc. AR bought a new position in Hess Midstream in the third quarter worth about $3,255,000. Catalyst Capital Advisors LLC lifted its position in shares of Hess Midstream by 15.7% during the third quarter. Catalyst Capital Advisors LLC now owns 194,231 shares of the company's stock valued at $6,851,000 after buying an additional 26,290 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC bought a new stake in shares of Hess Midstream in the 3rd quarter valued at about $322,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hess Midstream Price Performance

HESM stock traded down $0.77 during midday trading on Monday, reaching $40.96. The stock had a trading volume of 1,768,370 shares, compared to its average volume of 1,197,003. The company's fifty day simple moving average is $39.65 and its 200 day simple moving average is $37.32. 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 market cap of $8.93 billion, a price-to-earnings ratio of 16.46 and a beta of 1.53. Hess Midstream LP has a 52-week low of $32.75 and a 52-week high of $42.31.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal 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 $0.7012 dividend. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend was Thursday, February 6th. Hess Midstream's payout ratio is currently 112.45%.

Analysts Set New Price Targets

Several brokerages have recently commented on HESM. Citigroup increased their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. 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 boosted their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $42.00.

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.