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

Hess Midstream (NYSE:HESM) issued its quarterly earnings data on Wednesday. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03, Zacks reports. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%.

Hess Midstream Trading Down 1.6 %

Shares of Hess Midstream stock traded down $0.67 on Friday, reaching $41.24. 189,412 shares of the company were exchanged, compared to its average volume of 996,559. The stock has a fifty day moving average price of $38.01 and a 200-day moving average price of $36.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. Hess Midstream has a fifty-two week low of $32.15 and a fifty-two week high of $42.15. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.56 and a beta of 1.52.

Hess Midstream Increases Dividend

The business 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 is Thursday, February 6th. This represents a $2.80 annualized dividend and a yield of 6.80%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s dividend payout ratio is presently 110.04%.

Analysts Set New Price Targets

Separately, Raymond James lifted their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday.

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the transaction, the chief financial officer now directly owns 59,945 shares in the company, valued at $2,117,257.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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.