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

Hess Midstream LP (NYSE:HESM) announced a dividend on Monday, October 28th, NASDAQ reports. Shareholders 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 dividend payout ratio of 83.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

Shares of NYSE HESM traded down $0.06 during midday trading on Tuesday, reaching $34.83. The stock had a trading volume of 944,540 shares, compared to its average volume of 898,196. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. Hess Midstream has a 12-month low of $29.20 and a 12-month high of $39.11. The stock has a 50-day moving average of $36.07 and a 200-day moving average of $35.97. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 15.76 and a beta of 1.51.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price objective on Hess Midstream from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st.

Insider Buying and Selling

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of Hess Midstream stock in a transaction on 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 can be accessed 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.