Hess Midstream Partners LP (NYSE:HESM) Raises Dividend to $0.79 Per Share

Hess Midstream Partners LP (NYSE:HESM) announced a quarterly dividend on Monday, July 27th. Investors of record on Thursday, August 6th will be paid a dividend of 0.7888 per share on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Thursday, August 6th. This is a 1.2% increase from Hess Midstream Partners’s previous quarterly dividend of $0.78.

Hess Midstream Partners has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 8 years. Hess Midstream Partners has a dividend payout ratio of 95.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Hess Midstream Partners to earn $3.01 per share next year, which means the company may not be able to cover its $3.11 annual dividend with an expected future payout ratio of 103.3%.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $39.74 on Tuesday. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 13.75 and a beta of 0.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners has a twelve month low of $31.63 and a twelve month high of $44.14. The stock has a fifty day simple moving average of $38.75 and a 200 day simple moving average of $38.03.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts expect that Hess Midstream Partners will post 2.87 EPS for the current year.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.