Hess Midstream (HESM) Scheduled to Post Quarterly Earnings on Wednesday

Hess Midstream (NYSE:HESM - Get Free Report) will be announcing its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Individual interested in participating in the company's earnings conference call can do so using this link.

Hess Midstream (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The business had revenue of $365.50 million for the quarter, compared to analysts' expectations of $365.16 million. During the same period in the prior year, the company posted $0.50 EPS. The business's revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts expect Hess Midstream to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Hess Midstream Price Performance

Shares of NYSE HESM traded down $0.01 during midday trading on Wednesday, hitting $35.49. The company had a trading volume of 434,284 shares, compared to its average volume of 903,217. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 16.06 and a beta of 1.51. Hess Midstream has a twelve month low of $29.20 and a twelve month high of $39.11. The business has a 50-day simple moving average of $36.14 and a two-hundred day simple moving average of $35.98. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were given a dividend of $0.6677 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.53%. This is an increase from Hess Midstream's previous quarterly dividend of $0.65. The ex-dividend date was Thursday, August 8th. Hess Midstream's dividend payout ratio (DPR) is presently 120.81%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, Director Infrastructure Investor Global sold 12,650,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

HESM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Hess Midstream from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. UBS Group lifted their price target on Hess Midstream from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd.

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.