TD Asset Management Inc. Sells 252,478 Shares of Hess Midstream LP (NYSE:HESM)

TD Asset Management Inc. reduced its stake in Hess Midstream LP (NYSE:HESM - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,329,405 shares of the company's stock after selling 252,478 shares during the period. TD Asset Management Inc. owned approximately 1.53% of Hess Midstream worth $123,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HESM. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 acquiring an additional 579 shares during the period. US Bancorp DE boosted its holdings in shares of Hess Midstream by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after purchasing an additional 510 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hess Midstream in the 3rd quarter valued at $100,000. IFP Advisors Inc raised its holdings in shares of Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after buying an additional 733 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted 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 worth $116,000 after buying an additional 329 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

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Analyst Ratings Changes

Several research analysts have commented on HESM shares. JPMorgan Chase & Co. boosted their target price on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday. Citigroup upped 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. 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 note on Tuesday, February 4th. Finally, Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Hess Midstream presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hess Midstream Trading Up 0.3 %

Shares of HESM stock traded up $0.14 during trading hours on Friday, hitting $42.51. 754,386 shares of the company's stock traded hands, compared to its average volume of 970,965. The stock has a market cap of $9.27 billion, a PE ratio of 17.07 and a beta of 1.48. The stock's 50 day simple moving average is $41.16 and its 200 day simple moving average is $38.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a 12 month low of $32.75 and a 12 month high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last announced 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 anticipate that Hess Midstream LP will post 2.5 EPS 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 represents a $2.80 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio is currently 112.45%.

Hess Midstream 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.