Hess Midstream LP (NYSE:HESM) Announces $0.68 Dividend

Hess Midstream LP (NYSE:HESM) announced a dividend on Monday, October 28th, NASDAQ reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.6846 per share on Thursday, November 14th. The ex-dividend date of this dividend is Thursday, November 7th.

Hess Midstream has raised its dividend by an average of 11.0% per year over the last three years. Hess Midstream has a dividend payout ratio of 83.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Hess Midstream to earn $2.74 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 97.4%.

Hess Midstream Stock Down 0.2 %

Hess Midstream stock traded down $0.06 during midday trading on Tuesday, hitting $34.83. The stock had a trading volume of 944,540 shares, compared to its average volume of 898,196. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 8.55. The stock has a market cap of $7.79 billion, a P/E ratio of 15.75 and a beta of 1.51. Hess Midstream has a 12 month low of $29.20 and a 12 month high of $39.11. The business has a fifty day moving average price of $36.07 and a 200 day moving average price of $35.97.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The firm had revenue of $365.50 million during the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. Hess Midstream’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Research analysts predict that Hess Midstream will post 2.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HESM. UBS Group lifted their target price on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted 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.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $35.12, for a total value of $444,268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.