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

Hess Midstream (NYSE:HESM) posted its quarterly earnings results 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 net margin of 13.06% and a return on equity of 47.87%.

Hess Midstream Trading Up 0.7 %

Shares of HESM stock traded up $0.30 during mid-day trading on Wednesday, reaching $41.17. The stock had a trading volume of 197,269 shares, compared to its average volume of 808,039. The firm has a market capitalization of $8.97 billion, a PE ratio of 17.44 and a beta of 1.52. The stock’s 50-day moving average price is $37.81 and its two-hundred day moving average price is $36.73. Hess Midstream has a 52-week low of $32.15 and a 52-week high of $41.73. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be given a dividend of $0.7012 per share. This represents a $2.80 annualized dividend and a yield of 6.81%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, February 6th. Hess Midstream’s dividend payout ratio is presently 116.10%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO Jonathan C. Stein sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.32, for a total value of $279,840.36. Following the completion of the transaction, the chief financial officer now owns 59,945 shares in the company, valued at $2,117,257.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

About Hess Midstream

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.