Hess Midstream (NYSE:HESM) Announces Earnings Results, Beats Estimates By $0.03 EPS

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

Hess Midstream Stock Performance

HESM stock opened at $41.49 on Thursday. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 17.59 and a beta of 1.52. The firm has a 50 day moving average of $37.92 and a two-hundred day moving average of $36.77. 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 $42.15.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, February 6th will be issued a $0.7012 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 6.76%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is currently 116.10%.

Insider Activity

In other news, CFO Jonathan C. Stein sold 7,923 shares of Hess Midstream stock in a transaction that occurred on 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 owns 59,945 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

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

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.