Hess Midstream LP (HESM) To Go Ex-Dividend on May 1st

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 7.38%. The ex-dividend date is Wednesday, May 1st. This is an increase from Hess Midstream’s previous quarterly dividend of $0.63.

Hess Midstream has raised its dividend payment by an average of 11.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Hess Midstream has a payout ratio of 78.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Hess Midstream to earn $2.96 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 85.8%.

Hess Midstream Stock Performance

NYSE:HESM opened at $35.32 on Wednesday. The firm has a market capitalization of $7.99 billion, a PE ratio of 16.90 and a beta of 1.50. Hess Midstream has a 1 year low of $26.86 and a 1 year high of $36.84. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. The firm’s fifty day simple moving average is $35.07 and its 200 day simple moving average is $32.74.

Hess Midstream (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm 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 8.79% and a return on equity of 28.21%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, sell-side analysts anticipate that Hess Midstream will post 2.54 EPS for the current year.

Insider Activity

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.83, for a total value of $377,545,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HESM shares. JPMorgan Chase & Co. raised their target price on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group increased their price target on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

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.