Hess Midstream (NYSE:HESM) Posts Earnings Results, Beats Expectations By $0.05 EPS

Hess Midstream (NYSE:HESM) released its quarterly earnings data on Wednesday. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05, Briefing.com reports. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $376.98 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis.

Hess Midstream Trading Down 0.0 %

Shares of NYSE:HESM traded down $0.01 during midday trading on Thursday, reaching $34.65. The company’s stock had a trading volume of 823,394 shares, compared to its average volume of 900,432. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 15.68 and a beta of 1.51. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $36.00 and a two-hundred day moving average price of $35.96. Hess Midstream has a fifty-two week low of $29.20 and a fifty-two week high of $39.11.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a $0.6846 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.67. Hess Midstream’s payout ratio is 120.81%.

Insider Buying and Selling

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HESM. 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 report on Wednesday, August 21st. UBS Group lifted their price objective on Hess Midstream from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

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.