Hess Midstream (NYSE:HESM) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Hess Midstream (NYSE:HESM) issued its earnings results on Wednesday. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03, Zacks reports. Hess Midstream had a return on equity of 47.87% and a net margin of 13.06%.

Hess Midstream Trading Up 0.7 %

Shares of Hess Midstream stock traded up $0.30 during trading on Wednesday, hitting $41.17. The company’s stock had a trading volume of 197,269 shares, compared to its average volume of 808,039. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 17.44 and a beta of 1.52. Hess Midstream has a 52 week low of $32.15 and a 52 week high of $41.73. The stock has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $36.73. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be given a dividend of $0.7012 per share. The ex-dividend date is Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 6.81%. Hess Midstream’s dividend payout ratio (DPR) is currently 116.10%.

Insider Buying and Selling

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Separately, Raymond James increased their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday.

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.