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

Hess Midstream (NYSE:HESM) released its earnings results on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05, Briefing.com reports. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. Hess Midstream had a return on equity of 42.07% and a net margin of 11.59%. Hess Midstream’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share.

Hess Midstream Trading Down 1.1 %

NYSE HESM traded down $0.39 on Friday, hitting $36.56. 1,087,515 shares of the company were exchanged, compared to its average volume of 683,571. The company’s 50 day moving average price is $36.50 and its 200-day moving average price is $35.28. The company has a debt-to-equity ratio of 8.67, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $8.17 billion, a P/E ratio of 16.53 and a beta of 1.52. Hess Midstream has a twelve month low of $27.57 and a twelve month high of $39.11.

Hess Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.6677 per share. This represents a $2.67 annualized dividend and a yield of 7.31%. The ex-dividend date is Thursday, August 8th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is presently 118.10%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HESM shares. JPMorgan Chase & Co. lifted their target price on Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group lifted their target price on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company boosted their price objective on Hess Midstream from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 10,000,000 shares of Hess Midstream stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $34.02, for a total transaction of $340,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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.