Hess Midstream (NYSE:HESM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Hess Midstream (NYSE:HESM) released its quarterly earnings data on Wednesday. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03, Zacks reports. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%.

Hess Midstream Price Performance

Shares of NYSE:HESM opened at $41.49 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The firm’s 50 day moving average is $37.92 and its two-hundred day moving average is $36.77. The firm has a market capitalization of $9.05 billion, a P/E ratio of 17.59 and a beta of 1.52. Hess Midstream has a 52 week low of $32.15 and a 52 week high of $42.15.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.7012 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.76%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, February 6th. Hess Midstream’s payout ratio is presently 116.10%.

Analyst Upgrades and Downgrades

Separately, Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday.

Insider Buying and Selling

In other news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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.