Hess Midstream LP (NYSE:HESM) to Issue Quarterly Dividend of $0.70

Hess Midstream LP (NYSE:HESM - Get Free Report) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Thursday, February 6th will be paid a dividend of 0.7012 per share on Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Hess Midstream's previous quarterly dividend of $0.68.

Hess Midstream has increased its dividend payment by an average of 11.3% per year over the last three years. Hess Midstream has a payout ratio of 77.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities research analysts expect Hess Midstream to earn $3.13 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 87.5%.

Hess Midstream Price Performance

Shares of Hess Midstream stock traded down $1.18 during midday trading on Friday, hitting $40.73. 767,720 shares of the company were exchanged, compared to its average volume of 1,025,418. The firm has a 50 day simple moving average of $38.01 and a 200-day simple moving average of $36.80. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $8.88 billion, a P/E ratio of 16.34 and a beta of 1.52. Hess Midstream has a 52 week low of $32.15 and a 52 week high of $42.15.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share 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%. Research analysts forecast that Hess Midstream will post 2.67 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $35.32, for a total value of $279,840.36. Following the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $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 accessible through this hyperlink.

Analyst Upgrades and Downgrades

Separately, Raymond James upped 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.

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.