Nordea Investment Management AB Has $8.31 Million Position in Hess Midstream Partners LP $HESM

Nordea Investment Management AB trimmed its position in Hess Midstream Partners LP (NYSE:HESM) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,583 shares of the company’s stock after selling 44,077 shares during the quarter. Nordea Investment Management AB owned 0.12% of Hess Midstream Partners worth $8,308,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HESM. Penbrook Management LLC lifted its holdings in shares of Hess Midstream Partners by 30.5% during the fourth quarter. Penbrook Management LLC now owns 30,055 shares of the company’s stock worth $1,037,000 after buying an additional 7,025 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Hess Midstream Partners in the fourth quarter valued at about $249,000. Severin Investments LLC bought a new position in Hess Midstream Partners during the third quarter worth about $301,000. Strategic Advocates LLC bought a new position in Hess Midstream Partners during the third quarter worth about $28,000. Finally, JPMorgan Chase & Co. raised its stake in Hess Midstream Partners by 179.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock worth $78,399,000 after purchasing an additional 1,456,627 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 1.1%

HESM stock opened at $39.74 on Thursday. The company has a market cap of $8.25 billion, a PE ratio of 13.89 and a beta of 0.60. The business has a 50-day simple moving average of $37.36 and a 200 day simple moving average of $35.42. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.54.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The business had revenue of $374.50 million during the quarter, compared to analysts’ expectations of $419.16 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. Hess Midstream Partners’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.7641 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 7.7%. Hess Midstream Partners’s payout ratio is currently 106.99%.

Analysts Set New Price Targets

HESM has been the subject of a number of recent research reports. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their target price on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.71.

Hess Midstream Partners Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.