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

Thrivent Financial for Lutherans boosted its position in Hess Midstream LP (NYSE:HESM) by 147.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 200,062 shares of the company’s stock after purchasing an additional 119,277 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of Hess Midstream worth $7,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HESM. Naples Global Advisors LLC increased its holdings in Hess Midstream by 0.5% during the second quarter. Naples Global Advisors LLC now owns 62,220 shares of the company’s stock worth $2,267,000 after buying an additional 300 shares during the last quarter. Seelaus Asset Management LLC increased its stake in shares of Hess Midstream by 5.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,800 shares of the company’s stock worth $205,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Hess Midstream by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 7,069 shares of the company’s stock worth $258,000 after purchasing an additional 323 shares during the last quarter. Granite Group Advisors LLC lifted its stake in Hess Midstream by 5.6% in the first quarter. Granite Group Advisors LLC now owns 7,106 shares of the company’s stock valued at $257,000 after purchasing an additional 375 shares during the last quarter. Finally, Comerica Bank lifted its stake in Hess Midstream by 7.4% in the first quarter. Comerica Bank now owns 5,553 shares of the company’s stock valued at $201,000 after purchasing an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan C. Stein sold 7,923 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 59,945 shares of the company’s stock, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hess Midstream Price Performance

HESM opened at $36.82 on Friday. The firm has a 50-day moving average price of $35.62 and a 200-day moving average price of $36.02. Hess Midstream LP has a twelve month low of $30.08 and a twelve month high of $39.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 15.60 and a beta of 1.51.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $376.98 million. During the same period last year, the firm earned $0.57 EPS. Hess Midstream’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that Hess Midstream LP will post 2.45 EPS for the current year.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.6846 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.44%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 7th. Hess Midstream’s payout ratio is presently 115.68%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st.

About Hess Midstream

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.