Hess Midstream LP (NYSE:HESM) Announces Quarterly Dividend of $0.67

Hess Midstream LP (NYSE:HESM) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Thursday, August 8th will be paid a dividend of 0.6677 per share on Wednesday, August 14th. This represents a $2.67 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend is Thursday, August 8th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65.

Hess Midstream has increased its dividend payment by an average of 11.0% per year over the last three years. Hess Midstream has a payout ratio of 86.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Hess Midstream to earn $2.49 per share next year, which means the company may not be able to cover its $2.67 annual dividend with an expected future payout ratio of 107.2%.

Hess Midstream Trading Up 2.3 %

Shares of Hess Midstream stock opened at $36.15 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 8.67. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 16.36 and a beta of 1.52. The business has a fifty day simple moving average of $36.51 and a 200-day simple moving average of $35.37. Hess Midstream has a fifty-two week low of $27.57 and a fifty-two week high of $39.11.

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. Hess Midstream had a return on equity of 42.07% and a net margin of 11.59%. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $365.16 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream will post 2.26 EPS for the current fiscal year.

Insider Activity at Hess Midstream

In related news, Director Infrastructure Investor Global sold 1,500,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $34.02, for a total transaction of $51,030,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently commented on HESM shares. JPMorgan Chase & Co. upped their target price on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company upped their target price on Hess Midstream from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Finally, UBS Group upped their target price on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Hess Midstream Company Profile

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.