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

Thrivent Financial for Lutherans decreased its holdings in shares of Hess Midstream LP (NYSE:HESM - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,576 shares of the company's stock after selling 22,486 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Hess Midstream worth $6,575,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Hess Midstream by 98.0% during the 4th quarter. Nordea Investment Management AB now owns 271,051 shares of the company's stock valued at $10,118,000 after buying an additional 134,171 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Hess Midstream by 37.7% during the third quarter. Stifel Financial Corp now owns 11,490 shares of the company's stock valued at $405,000 after acquiring an additional 3,148 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Hess Midstream by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 23,729 shares of the company's stock worth $879,000 after purchasing an additional 10,175 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Hess Midstream by 11.9% in the 4th quarter. Artemis Investment Management LLP now owns 851,203 shares of the company's stock worth $31,520,000 after purchasing an additional 90,521 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hess Midstream by 9.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,106 shares of the company's stock valued at $7,093,000 after purchasing an additional 17,261 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Hess Midstream

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hess Midstream Stock Performance

NYSE:HESM traded down $0.66 during trading hours on Thursday, reaching $42.38. The company had a trading volume of 1,271,473 shares, compared to its average volume of 939,439. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 17.02 and a beta of 1.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm's 50 day moving average price is $41.09 and its 200-day moving average price is $37.96. Hess Midstream LP has a 52 week low of $32.75 and a 52 week high of $44.05.

Hess Midstream (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. On average, analysts forecast that Hess Midstream LP will post 2.5 EPS for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Thursday, February 6th. This is a boost from Hess Midstream's previous quarterly dividend of $0.68. Hess Midstream's dividend payout ratio is 112.45%.

Wall Street Analyst Weigh In

HESM has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Raymond James boosted their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their target price on Hess Midstream from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. upped their price target on Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

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.