Hess Midstream (NYSE:HESM) Posts Earnings Results, Beats Estimates By $0.05 EPS

Hess Midstream (NYSE:HESM) released its quarterly earnings results on Wednesday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05, Briefing.com reports. Hess Midstream had a return on equity of 49.72% and a net margin of 13.06%. The firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same period in the previous year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Hess Midstream Price Performance

Shares of Hess Midstream stock traded down $0.04 on Friday, hitting $34.61. The company’s stock had a trading volume of 855,454 shares, compared to its average volume of 900,219. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 14.67 and a beta of 1.51. The firm has a fifty day moving average price of $35.91 and a 200-day moving average price of $35.95. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. Hess Midstream has a 1 year low of $29.20 and a 1 year high of $39.11.

Hess Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.6846 per share. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 annualized dividend and a dividend yield of 7.91%. The ex-dividend date of this dividend is Thursday, November 7th. Hess Midstream’s dividend payout ratio is presently 115.68%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st.

Insider Activity at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total value of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

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.