Hess Midstream (NYSE:HESM) Announces Earnings Results, Beats Estimates By $0.03 EPS

Hess Midstream (NYSE:HESM - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.03, Zacks reports. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%.

Hess Midstream Trading Down 3.2 %

HESM traded down $1.35 on Friday, hitting $40.57. 1,188,672 shares of the company were exchanged, compared to its average volume of 809,206. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $36.80. The stock has a market capitalization of $8.84 billion, a PE ratio of 16.29 and a beta of 1.52. Hess Midstream has a 12 month low of $32.15 and a 12 month high of $42.15.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, February 6th will be paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.91%. 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's payout ratio is 110.04%.

Insider Buying and Selling at Hess Midstream

In other news, CFO Jonathan C. Stein sold 7,923 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.32, for a total transaction of $279,840.36. Following the completion of the sale, the chief financial officer now directly owns 59,945 shares in the company, valued at approximately $2,117,257.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Separately, Raymond James increased their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday.

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.