Hess Midstream LP (NYSE:HESM) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Hess Midstream LP (NYSE:HESM) by 98.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 271,051 shares of the company’s stock after buying an additional 134,171 shares during the period. Nordea Investment Management AB’s holdings in Hess Midstream were worth $10,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HESM. Epoch Investment Partners Inc. increased its holdings in Hess Midstream by 23.5% in the second quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company’s stock valued at $107,619,000 after buying an additional 562,688 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Hess Midstream by 7.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,640,514 shares of the company’s stock valued at $93,131,000 after acquiring an additional 194,154 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Hess Midstream by 126.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,936,522 shares of the company’s stock valued at $70,567,000 after purchasing an additional 1,082,840 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Hess Midstream by 3.8% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company’s stock worth $46,691,000 after purchasing an additional 49,003 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Hess Midstream in the 3rd quarter worth about $44,088,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Stock Up 1.0 %

Hess Midstream stock opened at $38.31 on Thursday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.35 billion, a PE ratio of 16.23 and a beta of 1.52. The business has a 50 day simple moving average of $36.38 and a 200-day simple moving average of $36.42. Hess Midstream LP has a 12 month low of $30.72 and a 12 month high of $39.11.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. On average, analysts anticipate that Hess Midstream LP will post 2.41 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.6846 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a yield of 7.15%. Hess Midstream’s dividend payout ratio (DPR) is currently 115.68%.

Insider Buying and Selling

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hess Midstream 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.