SCHEDULE 13G/A: ALPS Advisors and Alerian MLP ETF Disclose Significant Stake in Hess Midstream LP

ALPS Advisors, Inc. and Alerian MLP ETF have filed an amended Schedule 13G, revealing beneficial ownership of 8.12% and 8% respectively, of Hess Midstream LP's common units as of December 31, 2024.

Summary

• ALPS Advisors, Inc. reported beneficial ownership of 20,104,557 common units of Hess Midstream LP, representing 8.12% of the class.
• Alerian MLP ETF reported beneficial ownership of 19,816,584 common units of Hess Midstream LP, representing 8% of the class.
• Both entities share voting and dispositive power over their respective holdings.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously reported beneficial ownership.
• ALPS Advisors, Inc. is an investment adviser to investment companies, including Alerian MLP ETF, and disclaims beneficial ownership of the securities held by the Funds.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Hess Midstream LP.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's operational or financial performance. The presence of significant institutional ownership can be viewed as a neutral to slightly positive indicator of investor interest.

Future Outlook

This document is a beneficial ownership disclosure and does not contain forward-looking statements or guidance regarding the issuer's future performance or outlook.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing highlights significant institutional investment in Hess Midstream LP, a company operating in the midstream energy sector. Alerian MLP ETF specifically focuses on Master Limited Partnerships (MLPs), which are common structures in the energy infrastructure industry, known for their stable cash flows and distributions. The substantial holdings by an MLP-focused ETF underscore the continued institutional interest in the midstream segment for its income-generating potential.

Stakeholder Impact

• Shareholders: The disclosure of significant institutional ownership by ALPS Advisors and Alerian MLP ETF can provide confidence to other investors regarding the liquidity and institutional interest in Hess Midstream LP's common units.

Key Dates

Keywords

Hess Midstream LP, ALPS Advisors Inc., Alerian MLP ETF, Schedule 13G, Beneficial Ownership, Common Units, Limited Partner Interests, SEC Filing, Investment Adviser, Investment Company, Midstream, Energy Infrastructure