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

Thrivent Financial for Lutherans boosted its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 58.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,007 shares of the company’s stock after purchasing an additional 53,807 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Hess Midstream Partners worth $5,044,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Marquette Asset Management LLC bought a new position in Hess Midstream Partners during the third quarter worth about $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $50,000. CENTRAL TRUST Co raised its holdings in Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after buying an additional 400 shares during the period. Geneos Wealth Management Inc. lifted its stake in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Hess Midstream Partners by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analyst Ratings Changes

HESM has been the topic of several research reports. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. Raymond James Financial downgraded Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Finally, Zacks Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $40.57.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $35.72 on Friday. The firm’s 50-day simple moving average is $34.57 and its 200 day simple moving average is $36.11. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 12.49 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, February 2nd. The company reported $0.72 EPS 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 firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

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

Hess Midstream Partners Company Profile

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.