Hess Midstream (NYSE:HESM) Posts Earnings Results, Beats Expectations By $0.03 EPS

Hess Midstream (NYSE:HESM) issued its quarterly earnings results on Wednesday. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03, Zacks reports. Hess Midstream had a net margin of 13.06% and a return on equity of 47.87%.

Hess Midstream Stock Up 1.5 %

Shares of NYSE HESM opened at $41.47 on Wednesday. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 17.50 and a beta of 1.52. The company has a current ratio of 0.70, a quick 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 stock has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $36.73.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be paid a $0.7012 dividend. 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. This represents a $2.80 annualized dividend and a yield of 6.76%. Hess Midstream’s dividend payout ratio (DPR) is 116.10%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Hess Midstream news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This trade represents 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.