Hess Midstream LP (NYSE:HESM) Declares Quarterly Dividend of $0.70

Hess Midstream LP (NYSE:HESM) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Thursday, February 6th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68.

Hess Midstream has raised its dividend payment by an average of 11.3% per year over the last three years. Hess Midstream has a dividend payout ratio of 77.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 traded up $0.78 during trading hours on Tuesday, reaching $40.97. The stock had a trading volume of 801,420 shares, compared to its average volume of 846,364. Hess Midstream has a 52-week low of $32.15 and a 52-week high of $41.61. The stock has a market cap of $8.93 billion, a P/E ratio of 17.36 and a beta of 1.52. The stock has a fifty day moving average of $37.71 and a 200 day moving average of $36.71. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

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

Analyst Ratings Changes

Separately, Raymond James raised their price objective on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday.

Insider Activity

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.