Thrivent Financial for Lutherans Has $5.04 Million Stock Position in Hess Midstream Partners LP $HESM

Thrivent Financial for Lutherans grew its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 58.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 146,007 shares of the company’s stock after buying an additional 53,807 shares during the period. Thrivent Financial for Lutherans’ holdings in Hess Midstream Partners were worth $5,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in HESM. Invesco Ltd. increased its position in shares of Hess Midstream Partners by 50.5% during the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after buying an additional 2,020,430 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Hess Midstream Partners by 0.9% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,317,200 shares of the company’s stock worth $80,059,000 after buying an additional 20,000 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Hess Midstream Partners by 92.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock worth $80,739,000 after acquiring an additional 1,006,998 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Hess Midstream Partners by 51.5% during the second quarter. Bank of New York Mellon Corp now owns 1,519,185 shares of the company’s stock valued at $58,504,000 after buying an additional 516,136 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in Hess Midstream Partners by 18.4% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,507,121 shares of the company’s stock valued at $52,071,000 after acquiring an additional 234,627 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Trading Up 2.3%

NYSE HESM opened at $35.72 on Friday. The stock has a market cap of $7.42 billion, a P/E ratio of 12.49 and a beta of 0.62. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 8.83. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The stock’s fifty day moving average price is $34.57 and its 200-day moving average price is $36.11.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The company had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, February 5th will be given a dividend of $0.7641 per share. This represents a $3.06 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend is Thursday, February 5th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s payout ratio is presently 106.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HESM shares. Zacks Research lowered shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. Finally, Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Hess Midstream Partners has an average rating of “Reduce” and a consensus target price of $40.57.

About Hess Midstream Partners

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.