Hess Midstream LP (NYSE:HESM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Hess Midstream LP (NYSE:HESM) by 11.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 177,576 shares of the company’s stock after selling 22,486 shares during the period. Thrivent Financial for Lutherans’ holdings in Hess Midstream were worth $6,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. apricus wealth LLC raised its stake in Hess Midstream by 1.4% during the 4th quarter. apricus wealth LLC now owns 18,500 shares of the company’s stock valued at $685,000 after acquiring an additional 250 shares during the last quarter. Teamwork Financial Advisors LLC increased its holdings in shares of Hess Midstream by 2.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 13,035 shares of the company’s stock valued at $483,000 after purchasing an additional 286 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Hess Midstream by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock worth $439,000 after purchasing an additional 298 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings 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 worth $116,000 after purchasing an additional 329 shares during the period. Finally, Hardy Reed LLC grew its position in Hess Midstream by 5.3% in the 4th quarter. Hardy Reed LLC now owns 8,990 shares of the company’s stock valued at $333,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Hess Midstream from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Raymond James raised their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess Midstream currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total transaction of $430,210,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hess Midstream Stock Performance

NYSE:HESM opened at $42.71 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream LP has a fifty-two week low of $32.75 and a fifty-two week high of $44.05. The firm’s fifty day simple moving average is $40.88 and its 200-day simple moving average is $37.83. The stock has a market cap of $9.31 billion, a PE ratio of 17.15 and a beta of 1.48.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Analysts expect that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, February 6th were paid a $0.7012 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.57%. The ex-dividend date was Thursday, February 6th. Hess Midstream’s dividend payout ratio (DPR) is presently 112.45%.

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.