Hess Midstream LP (NYSE:HESM – Get Free Report) declared a quarterly 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. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.67.
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 85.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Hess Midstream to earn $2.75 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 99.6%.
Hess Midstream Stock Performance
Shares of HESM opened at $35.54 on Wednesday. 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 stock has a 50 day moving average price of $35.81 and a 200 day moving average price of $35.96. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 14.70 and a beta of 1.51. Hess Midstream has a 52-week low of $29.20 and a 52-week high of $39.11.
Insider Buying and Selling at Hess Midstream
In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. lifted 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.
Get Our Latest Stock Report on Hess Midstream
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.
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