Hess Midstream LP (NYSE:HESM) Shares Bought by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. grew its position in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,581,106 shares of the company's stock after buying an additional 83,943 shares during the quarter. Hess Midstream makes up about 3.6% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 10th biggest position. Tortoise Capital Advisors L.L.C. owned 3.48% of Hess Midstream worth $280,728,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HESM. Invesco Ltd. raised its stake in shares of 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 acquiring an additional 191,175 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Hess Midstream by 5.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock worth $122,553,000 after buying an additional 165,933 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Hess Midstream by 11.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,751,875 shares of the company's stock valued at $64,872,000 after buying an additional 184,290 shares during the period. Renaissance Technologies LLC raised its position in shares of Hess Midstream by 2.7% during the fourth 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 last quarter. Finally, Artemis Investment Management LLP lifted its stake in shares of Hess Midstream by 11.9% during the fourth quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock valued at $31,520,000 after acquiring an additional 90,521 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Trading Down 0.6 %

Shares of HESM traded down $0.22 during trading hours on Friday, reaching $38.74. The stock had a trading volume of 346,759 shares, compared to its average volume of 995,161. The company has a market cap of $8.45 billion, a P/E ratio of 15.55 and a beta of 1.14. Hess Midstream LP has a 52 week low of $32.75 and a 52 week 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. The firm has a 50-day moving average of $39.96 and a 200 day moving average of $38.29.

Hess Midstream (NYSE:HESM - Get Free Report) last released its quarterly earnings data 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 return on equity of 54.59% and a net margin of 14.92%. On average, 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were given a $0.7012 dividend. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 7.24%. The ex-dividend date was Thursday, February 6th. Hess Midstream's payout ratio is currently 112.45%.

Analyst Ratings Changes

Several brokerages have weighed in on HESM. JPMorgan Chase & Co. boosted their price objective on Hess Midstream from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. 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 report on Tuesday, January 28th. Citigroup lifted their target price 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, Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Hess Midstream presently has an average rating of "Moderate Buy" and an average price target of $43.00.

Insider Buying and Selling

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total transaction of $430,210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hess Midstream Company 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.