Hess Midstream LP (NYSE:HESM) Plans Dividend of $0.68

Hess Midstream LP (NYSE:HESM) announced a dividend on Monday, October 28th, NASDAQ reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.6846 per share on Thursday, November 14th. The ex-dividend date of this dividend is Thursday, November 7th.

Hess Midstream has raised its dividend by an average of 11.0% per year over the last three years. Hess Midstream has a payout ratio of 83.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Hess Midstream to earn $2.74 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 97.4%.

Hess Midstream Stock Down 0.2 %

Shares of HESM opened at $34.83 on Wednesday. The company has a market capitalization of $7.79 billion, a P/E ratio of 15.76 and a beta of 1.51. Hess Midstream has a one year low of $29.20 and a one year high of $39.11. The business’s 50 day simple moving average is $36.04 and its 200-day simple moving average is $35.97. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.11 and a quick ratio of 1.11.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The company had revenue of $365.50 million for the quarter, compared to analyst estimates of $365.16 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Hess Midstream will post 2.36 EPS for the current fiscal year.

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 that occurred on Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HESM. JPMorgan Chase & Co. increased their price objective on shares of Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. UBS Group increased their price target on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd.

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.