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