Tortoise Capital Advisors L.L.C. Boosts Holdings in Hess Midstream LP (NYSE:HESM)

Tortoise Capital Advisors L.L.C. boosted its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,581,106 shares of the company's stock after purchasing an additional 83,943 shares during the period. Hess Midstream accounts for approximately 3.6% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 10th biggest position. Tortoise Capital Advisors L.L.C. owned about 3.48% of Hess Midstream worth $280,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HESM. Invesco Ltd. increased its holdings in shares of Hess Midstream by 4.9% during the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after acquiring an additional 191,175 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Hess Midstream by 5.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after purchasing an additional 165,933 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Hess Midstream by 11.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock worth $64,872,000 after buying an additional 184,290 shares during the period. Renaissance Technologies LLC raised its holdings in Hess Midstream by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,134,495 shares of the company's stock worth $42,010,000 after acquiring an additional 30,200 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Hess Midstream by 11.9% in the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after purchasing an additional 90,521 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hess Midstream Trading Up 0.9 %

Shares of Hess Midstream stock traded up $0.32 during trading on Wednesday, hitting $37.75. 1,387,230 shares of the company were exchanged, compared to its average volume of 1,000,160. 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 has a market capitalization of $8.23 billion, a P/E ratio of 15.16 and a beta of 1.14. The firm's fifty day moving average price is $39.97 and its 200 day moving average price is $38.27. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05.

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, topping 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 expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. The ex-dividend date was Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 7.43%. Hess Midstream's dividend payout ratio is presently 112.45%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HESM shares. Raymond James upped their target price on shares of 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 Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Citigroup boosted their price target 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. Finally, Wells Fargo & Company lifted their price objective on Hess Midstream from $40.00 to $42.00 and gave the company 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 issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.