Hess Midstream Partners LP (HESM) To Go Ex-Dividend on August 6th

Hess Midstream Partners LP (NYSE:HESM) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, August 6th will be paid a dividend of 0.7888 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, August 6th. This is a 1.2% increase from Hess Midstream Partners’s previous quarterly dividend of $0.78.

Hess Midstream Partners has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 8 years. Hess Midstream Partners has a payout ratio of 95.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Hess Midstream Partners to earn $3.01 per share next year, which means the company may not be able to cover its $3.11 annual dividend with an expected future payout ratio of 103.3%.

Hess Midstream Partners Trading Up 0.6%

NYSE HESM opened at $40.05 on Wednesday. The stock has a market capitalization of $8.26 billion, a P/E ratio of 13.86 and a beta of 0.53. Hess Midstream Partners has a 52-week low of $31.63 and a 52-week high of $44.14. The firm has a 50-day moving average price of $38.74 and a 200 day moving average price of $38.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Hess Midstream Partners will post 2.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on HESM. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research note on Monday, April 20th. Morgan Stanley reiterated an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream Partners presently has an average rating of “Reduce” and an average target price of $38.86.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.