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

Hess Midstream Partners (NYSE:HESM) released its quarterly earnings data on Friday. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05, FiscalAI reports. The business had revenue of $410.10 million for the quarter, compared to analyst estimates of $404.67 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. Hess Midstream Partners’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS.

Hess Midstream Partners Stock Up 1.4%

NYSE HESM traded up $0.45 during trading hours on Friday, reaching $32.70. 3,513,765 shares of the company’s stock were exchanged, compared to its average volume of 3,260,461. The company’s 50-day moving average is $36.52 and its two-hundred day moving average is $37.94. Hess Midstream Partners has a one year low of $29.52 and a one year high of $41.44. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 11.28 and a beta of 0.58.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Thursday, November 5th will be given a $0.7985 dividend. The ex-dividend date is Thursday, November 5th. This represents a $3.19 annualized dividend and a dividend yield of 9.8%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.7888. Hess Midstream Partners’s payout ratio is presently 108.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays set a $32.00 target price on shares of Hess Midstream Partners in a research note on Friday, October 23rd. Citigroup reduced their price target on shares of Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. UBS Group decreased their price target on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Morgan Stanley decreased their price target on shares of Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating for the company in a report on Tuesday, October 13th. Finally, Weiss Ratings cut shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $34.00.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.