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

Hess Midstream (NYSE:HESM) posted its quarterly earnings data on Wednesday. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 Up 1.5 %

Shares of NYSE:HESM opened at $41.47 on Wednesday. The firm has a market cap of $9.04 billion, a P/E ratio of 17.50 and a beta of 1.52. Hess Midstream has a 52-week low of $32.15 and a 52-week high of $41.61. The business’s 50 day simple moving average is $37.81 and its two-hundred day simple moving average is $36.73. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream Increases Dividend

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

Insider Activity

In related news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares of the company’s stock, valued at approximately $2,117,257.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

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

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.