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