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

by · The Cerbat Gem

Hess Midstream (NYSE:HESM – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.63 earnings per share (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 41.91% and a net margin of 11.59%. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $376.98 million. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Hess Midstream Stock Down 0.0 %

Shares of NYSE:HESM traded down $0.01 during trading on Thursday, reaching $34.65. 823,394 shares of the company traded hands, compared to its average volume of 900,432. The firm has a fifty day simple moving average of $36.00 and a 200 day simple moving average of $35.96. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream has a 1-year low of $29.20 and a 1-year high of $39.11. The firm has a market cap of $7.75 billion, a P/E ratio of 15.68 and a beta of 1.51.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a $0.6846 dividend. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.74 dividend on an annualized basis and a yield of 7.90%. Hess Midstream’s dividend payout ratio is presently 120.81%.

Analyst Ratings Changes

Several equities research analysts recently commented on HESM shares. JPMorgan Chase & Co. upped their price target on shares of Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. UBS Group increased their target price on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Get Our Latest Report on Hess Midstream

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Company Profile

(Get Free Report)

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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