Hess Midstream (HESM) to Release Earnings on Wednesday

Hess Midstream (NYSE:HESM) will issue its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Hess Midstream (NYSE:HESM) last released its quarterly earnings data 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. The business had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $365.16 million. Hess Midstream had a net margin of 11.59% and a return on equity of 41.91%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. 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 Trading Down 0.3 %

Hess Midstream stock opened at $35.50 on Wednesday. Hess Midstream has a 52-week low of $29.20 and a 52-week high of $39.11. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 16.06 and a beta of 1.51. The firm has a 50-day moving average price of $36.13 and a two-hundred day moving average price of $35.99.

Hess Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.6677 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date was Thursday, August 8th. This is a boost from Hess Midstream’s previous quarterly dividend of $0.65. Hess Midstream’s payout ratio is 120.81%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Infrastructure Investor Global sold 12,650,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.