Hess Midstream LP (HESM) to Issue Quarterly Dividend of $0.65 on May 14th

Hess Midstream LP (NYSE:HESM) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Stockholders of record on Thursday, May 2nd will be given a dividend of 0.6516 per share on Tuesday, May 14th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Wednesday, May 1st. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.63.

Hess Midstream has raised its dividend by an average of 11.0% per year over the last three years and has raised its dividend every year for the last 7 years. Hess Midstream has a dividend payout ratio of 78.6% 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 $2.77 per share next year, which means the company should continue to be able to cover its $2.54 annual dividend with an expected future payout ratio of 91.7%.

Hess Midstream Trading Down 0.1 %

HESM opened at $34.91 on Monday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 15.80 and a beta of 1.50. The stock’s 50 day moving average price is $35.19 and its 200-day moving average price is $32.86. Hess Midstream has a one year low of $26.86 and a one year high of $36.84. The company has a debt-to-equity ratio of 8.81, a quick ratio of 0.65 and a current ratio of 0.65.

Hess Midstream (NYSE:HESM) last released its earnings results on Wednesday, January 31st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $358.86 million. Hess Midstream had a net margin of 10.18% and a return on equity of 34.38%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, equities analysts forecast that Hess Midstream will post 2.42 EPS for the current year.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group boosted their price target on Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price target on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.67.

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.