Hess Midstream (HESM) to Release Earnings on Thursday

Hess Midstream (NYSE:HESM) will release its earnings data before the market opens on Thursday, April 25th. Analysts expect Hess Midstream to post earnings of $0.59 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The firm had revenue of $356.50 million during the quarter, compared to analyst estimates of $358.86 million. During the same period in the prior year, the company earned $0.49 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts expect Hess Midstream to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Hess Midstream Stock Performance

Hess Midstream stock opened at $34.74 on Thursday. The business has a 50 day moving average of $34.85 and a 200-day moving average of $32.51. Hess Midstream has a 1 year low of $26.86 and a 1 year high of $36.84. The company has a debt-to-equity ratio of 8.81, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $7.86 billion, a P/E ratio of 16.62 and a beta of 1.50.

Hess Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were paid a $0.6343 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $2.54 annualized dividend and a dividend yield of 7.30%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62. Hess Midstream’s dividend payout ratio is currently 121.53%.

Wall Street Analysts Forecast Growth

HESM has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Hess Midstream from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group increased their target price on shares of Hess Midstream from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Insiders Place Their Bets

In other Hess Midstream news, Director Infrastructure Investor Global sold 11,500,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total transaction of $377,545,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of Hess Midstream

Several hedge funds have recently bought and sold shares of HESM. Advisor Group Holdings Inc. boosted its holdings in Hess Midstream by 43.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,053 shares of the company’s stock worth $241,000 after acquiring an additional 2,423 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Hess Midstream during the 1st quarter worth $244,000. Cetera Advisor Networks LLC purchased a new position in Hess Midstream during the 1st quarter worth $445,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Hess Midstream during the 1st quarter worth $1,556,000. Finally, BlackRock Inc. boosted its holdings in Hess Midstream by 220.0% during the 1st quarter. BlackRock Inc. now owns 391,128 shares of the company’s stock worth $11,733,000 after acquiring an additional 268,914 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

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.