Thrivent Financial for Lutherans Raises Holdings in Hess Midstream LP (NYSE:HESM)

Thrivent Financial for Lutherans increased its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 147.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,062 shares of the company's stock after acquiring an additional 119,277 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of Hess Midstream worth $7,056,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HESM. Tortoise Capital Advisors L.L.C. boosted its stake in Hess Midstream by 12.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,428,262 shares of the company's stock worth $270,686,000 after buying an additional 822,311 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Hess Midstream by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 3,431,555 shares of the company's stock worth $125,046,000 after purchasing an additional 322,479 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Hess Midstream by 23.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,953,324 shares of the company's stock worth $107,619,000 after purchasing an additional 562,688 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in 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 buying an additional 1,082,840 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Hess Midstream by 3.8% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,323,803 shares of the company's stock valued at $46,691,000 after buying an additional 49,003 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st.

Insider Buying and Selling at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan C. Stein sold 7,923 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hess Midstream Trading Down 0.1 %

Shares of NYSE HESM traded down $0.04 during trading on Friday, reaching $36.78. The stock had a trading volume of 781,912 shares, compared to its average volume of 773,888. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $8.02 billion, a P/E ratio of 15.60 and a beta of 1.51. Hess Midstream LP has a fifty-two week low of $30.08 and a fifty-two week high of $39.11. The business's 50-day moving average price is $35.62 and its 200-day moving average price is $36.02.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, beating 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 return on equity of 47.87% and a net margin of 13.06%. Hess Midstream's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. On average, equities research analysts predict that Hess Midstream LP will post 2.45 EPS for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.6846 per share. 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 7.45%. Hess Midstream's dividend payout ratio is 116.10%.

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.