Hess Midstream LP (NYSE:HESM) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Hess Midstream LP (NYSE:HESM) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,180 shares of the company’s stock after acquiring an additional 3,412 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Hess Midstream worth $4,450,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB boosted its stake in Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company’s stock worth $10,118,000 after purchasing an additional 134,171 shares during the period. Stifel Financial Corp raised its holdings in shares of Hess Midstream by 37.7% in the third quarter. Stifel Financial Corp now owns 11,490 shares of the company’s stock valued at $405,000 after buying an additional 3,148 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Hess Midstream by 75.1% during the fourth quarter. Van ECK Associates Corp now owns 23,729 shares of the company’s stock worth $879,000 after buying an additional 10,175 shares during the period. Artemis Investment Management LLP grew its holdings 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 worth $31,520,000 after buying an additional 90,521 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Hess Midstream during the fourth quarter worth about $8,786,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Stock Up 0.9 %

Hess Midstream stock opened at $37.75 on Thursday. The stock’s 50 day moving average price is $39.97 and its 200 day moving average price is $38.27. The company has a market cap of $8.23 billion, a PE ratio of 15.16 and a beta of 1.14. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. Hess Midstream LP has a 1-year low of $32.75 and a 1-year high of $44.05.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 EPS 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%. On average, sell-side analysts predict that Hess Midstream LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were issued a $0.7012 dividend. The ex-dividend date was Thursday, February 6th. This is a boost 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 (DPR) is 112.45%.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction 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 accessible through the SEC website.

Analysts Set New Price Targets

HESM has been the subject of a number of recent research reports. Raymond James increased their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company raised 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess Midstream currently has a consensus rating of “Moderate Buy” and a consensus target price 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.