5 Best Dividend Stocks to Buy According to Frank Fu’s CaaS Capital

3. Hess Midstream LP (NYSE: HESM)

Fu’s Stake Value: $7,621,000
Percentage of Frank Fu’s 13F Portfolio: 0.08%
Dividend Yield: 7.37%
Number of Hedge Fund Holders: 9

Hess Midstream LP (NYSE: HESM) operates as an energy company, which serves its customers in the United States. The company was founded in 2014, and it stands third on the list of 10 best dividend stocks to buy according to Frank Fu’s CaaS Capital. Hess Midstream shares have gained 44.66% over the last 12 months.

On June 30, Wells Fargo analyst Roger Read raised the firm’s price target on Hess Midstream LP (NYSE: HESM) to $104 from $98 and rated it as “Overweight.” On April 28, Hess Midstream posted earnings results for the first three months of 2021. The earnings per share was $0.45, beating market predictions by $0.03. In addition, on April 23, Hess Midstream LP (NYSE: HESM) declared a quarterly dividend of $0.4526 per share, which was a 1.2% increase from the prior dividend of $0.4471.

Frank Fu’s CaaS Capital is the company’s most significant stakeholder, with 339.926 million shares worth $7.62 million. At the end of the first quarter of 2021, 9 hedge funds in the database of Insider Monkey held stakes worth $23.62 million in Hess Midstream LP (NYSE: HESM), up from 7 the preceding quarter worth $9.43 million.