Hess Midstream Partners (NYSE:HESM – Get Free Report) issued its earnings results on Friday. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05, FiscalAI reports. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The firm had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $404.67 million. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year.
Hess Midstream Partners Stock Up 1.4%
NYSE:HESM traded up $0.45 during midday trading on Friday, hitting $32.70. 3,513,765 shares of the company were exchanged, compared to its average volume of 1,722,630. Hess Midstream Partners has a fifty-two week low of $29.52 and a fifty-two week high of $41.44. The company has a market capitalization of $6.74 billion, a PE ratio of 11.28 and a beta of 0.58. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a fifty day simple moving average of $36.65 and a 200 day simple moving average of $37.95.
Hess Midstream Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Thursday, November 5th will be paid a dividend of $0.7985 per share. The ex-dividend date is Thursday, November 5th. This represents a $3.19 annualized dividend and a yield of 9.8%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888. Hess Midstream Partners’s dividend payout ratio (DPR) is 110.00%.
Analyst Upgrades and Downgrades
HESM has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research report on Friday, October 23rd. UBS Group decreased their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Barclays set a $32.00 target price on shares of Hess Midstream Partners in a research note on Friday, October 23rd. JPMorgan Chase & Co. lowered Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a report on Friday, October 2nd. Finally, Weiss Ratings cut Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $34.00.
Read Our Latest Stock Report on HESM
About Hess Midstream Partners
Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.
Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.
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