Eagle Global Advisors LLC Buys 41,930 Shares of Hess Midstream LP (NYSE:HESM)

Eagle Global Advisors LLC boosted its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,265,555 shares of the company's stock after purchasing an additional 41,930 shares during the quarter. Hess Midstream comprises approximately 1.9% of Eagle Global Advisors LLC's investment portfolio, making the stock its 12th biggest position. Eagle Global Advisors LLC owned about 0.58% of Hess Midstream worth $46,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its stake 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 valued at $280,728,000 after purchasing an additional 83,943 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 valued at $151,490,000 after buying an additional 191,175 shares in the last quarter. Epoch Investment Partners Inc. grew its position in 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 acquiring an additional 165,933 shares during the last quarter. Clearbridge Investments LLC raised its stake in 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 acquiring an additional 184,290 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its stake in Hess Midstream by 14.9% during the fourth quarter. BROOKFIELD Corp ON now owns 1,270,612 shares of the company's stock worth $47,051,000 after acquiring an additional 165,067 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Buying and Selling

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 3.3%

NYSE HESM traded up $1.21 on Monday, hitting $38.21. The company's stock had a trading volume of 398,216 shares, compared to its average volume of 988,376. The company's 50-day moving average is $39.22 and its 200 day moving average is $38.46. The firm has a market cap of $8.33 billion, a PE ratio of 15.35 and a beta of 0.67. Hess Midstream LP has a 1-year low of $33.59 and a 1-year high of $44.05. 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 (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to analysts' expectations of $384.28 million. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Hess Midstream's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.7098 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.43%. This is an increase from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date is Thursday, May 8th. Hess Midstream's dividend payout ratio (DPR) is 110.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HESM shares. Wells Fargo & Company reduced their price target on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Raymond James raised their target price 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. Citigroup upped their price target on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their price objective on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.80.

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.