Fort Washington Investment Advisors Inc. OH Acquires 58,849 Shares of Hess Midstream LP (NYSE:HESM)

Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 934.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,145 shares of the company's stock after acquiring an additional 58,849 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Hess Midstream were worth $2,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Hess Midstream by 1.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock worth $280,728,000 after acquiring an additional 83,943 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hess Midstream by 11.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock valued at $185,560,000 after purchasing an additional 496,464 shares during the last quarter. Invesco Ltd. boosted its stake in Hess Midstream by 4.9% in the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after purchasing an additional 191,175 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Hess Midstream by 5.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock worth $122,553,000 after purchasing an additional 165,933 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Hess Midstream by 11.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock worth $64,872,000 after purchasing an additional 184,290 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HESM. JPMorgan Chase & Co. lifted their price target on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company dropped their target price on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, 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, February 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.80.

Insider Buying and Selling at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The disclosure for this sale can be found here.

Hess Midstream Trading Up 0.2%

Hess Midstream stock traded up $0.06 during mid-day trading on Friday, hitting $39.51. The stock had a trading volume of 1,788,192 shares, compared to its average volume of 1,008,012. The stock has a 50-day simple moving average of $37.78 and a two-hundred day simple moving average of $38.93. 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 stock has a market capitalization of $8.51 billion, a PE ratio of 15.87 and a beta of 0.63. Hess Midstream LP has a 12 month low of $33.59 and a 12 month high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. The company's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were paid a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 7.19%. Hess Midstream's dividend payout ratio (DPR) is presently 110.98%.

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.