Hess Midstream (HESM) Projected to Post Earnings on Thursday

Hess Midstream (NYSE:HESM) is expected to be issuing its quarterly earnings data before the market opens on Thursday, April 24th. Analysts expect the company to announce earnings of $0.53 per share and revenue of $384.28 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Hess Midstream (NYSE:HESM) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. 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 Price Performance

Shares of HESM opened at $36.77 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The stock has a market cap of $8.02 billion, a P/E ratio of 14.77 and a beta of 1.14. The stock’s 50-day moving average price is $40.21 and its two-hundred day moving average price is $38.21. Hess Midstream has a 1 year low of $32.75 and a 1 year high of $44.05.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, February 6th were paid a $0.7012 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 dividend on an annualized basis and a yield of 7.63%. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is presently 112.45%.

Insider Buying and Selling

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HESM. Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Citigroup boosted their target price on Hess Midstream from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James increased their price objective on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.