Hess Midstream LP (NYSE:HESM – Get Free Report) 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.
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.
Check Out Our Latest Research Report on Hess Midstream
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.
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