Hess Midstream Partners LP (NYSE:HESM) Increases Dividend to $0.79 Per Share

Hess Midstream Partners LP (NYSE:HESM) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, August 6th will be paid a dividend of 0.7888 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Thursday, August 6th. This is a 1.2% increase from Hess Midstream Partners’s previous quarterly dividend of $0.78.

Hess Midstream Partners has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 8 years. Hess Midstream Partners has a payout ratio of 95.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Hess Midstream Partners to earn $3.01 per share next year, which means the company may not be able to cover its $3.11 annual dividend with an expected future payout ratio of 103.3%.

Hess Midstream Partners Price Performance

Shares of HESM opened at $39.74 on Tuesday. The business’s fifty day moving average is $38.75 and its 200 day moving average is $38.03. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $44.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The stock has a market cap of $8.19 billion, a P/E ratio of 13.75 and a beta of 0.53.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same quarter in the previous year, the business posted $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Hess Midstream Partners will post 2.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HESM has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research report on Monday, April 20th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.