Hess Midstream (NYSE:HESM) Issues Quarterly Earnings Results

by · The Markets Daily

Hess Midstream (NYSE:HESM – Get Free Report) released its earnings results on Wednesday. The company reported $0.63 earnings per share for the quarter, beating 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 analyst estimates of $376.98 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis.

Hess Midstream Stock Down 0.0 %

Shares of NYSE:HESM traded down $0.01 during mid-day trading on Thursday, reaching $34.65. 823,394 shares of the stock were exchanged, compared to its average volume of 900,432. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. The company has a market cap of $7.75 billion, a P/E ratio of 15.68 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 stock’s 50 day simple moving average is $36.00 and its 200-day simple moving average is $35.96.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a dividend of $0.6846 per share. The ex-dividend date is Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.90%. Hess Midstream’s dividend payout ratio (DPR) is presently 120.81%.

Insider Buying and Selling

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on HESM

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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