Hess Midstream LP (HESM) to Issue Quarterly Dividend of $0.70 on February 14th

Hess Midstream LP (NYSE:HESM) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be paid a dividend of 0.7012 per share on Friday, February 14th. This represents a $2.80 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68.

Hess Midstream has raised its dividend by an average of 11.3% per year over the last three years. Hess Midstream has a payout ratio of 77.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Hess Midstream to earn $2.67 per share next year, which means the company may not be able to cover its $2.74 annual dividend with an expected future payout ratio of 102.6%.

Hess Midstream Stock Performance

NYSE HESM opened at $40.97 on Wednesday. The company has a 50-day simple moving average of $37.81 and a two-hundred day simple moving average of $36.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream has a 12-month low of $32.15 and a 12-month high of $41.61. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 17.36 and a beta of 1.52.

Hess Midstream (NYSE:HESM) last posted its earnings results on Wednesday, October 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%. The company had revenue of $378.50 million during the quarter, compared to analyst estimates of $376.98 million. During the same period in the prior year, the business posted $0.57 earnings per share. Hess Midstream’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream will post 2.41 EPS for the current year.

Insider Activity at Hess Midstream

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Separately, Raymond James raised their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report 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.