Nordea Investment Management AB Has $10.12 Million Holdings in Hess Midstream LP (NYSE:HESM)

Nordea Investment Management AB increased its stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 98.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,051 shares of the company's stock after buying an additional 134,171 shares during the quarter. Nordea Investment Management AB owned about 0.12% of Hess Midstream worth $10,118,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HESM. Tompkins Financial Corp bought a new position in Hess Midstream in the 3rd quarter worth approximately $71,000. KBC Group NV grew its stake in shares of Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company's stock worth $99,000 after purchasing an additional 1,279 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Hess Midstream during the third quarter valued at $100,000. Icon Wealth Advisors LLC raised its stake in shares of Hess Midstream by 11.1% during the third quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the company's stock valued at $116,000 after purchasing an additional 329 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Hess Midstream by 487.4% in the third quarter. Brown Brothers Harriman & Co. now owns 3,366 shares of the company's stock worth $119,000 after purchasing an additional 2,793 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Price Performance

HESM traded up $0.38 on Thursday, reaching $38.31. The company had a trading volume of 657,100 shares, compared to its average volume of 543,400. Hess Midstream LP has a one year low of $30.72 and a one year high of $39.11. The company has a market capitalization of $8.35 billion, a P/E ratio of 16.23 and a beta of 1.52. The company has a fifty day moving average of $36.46 and a 200-day moving average of $36.44. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $376.98 million. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. As a group, equities research analysts anticipate that Hess Midstream LP will post 2.41 earnings per share for the current year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.6846 dividend. This is a positive change from Hess Midstream's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. This represents a $2.74 annualized dividend and a dividend yield of 7.15%. Hess Midstream's dividend payout ratio is 115.68%.

Insider Activity at Hess Midstream

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares of the company's stock, valued at $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.