Hess Midstream Partners (NYSE:HESM) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Hess Midstream Partners (NYSE:HESM) issued its earnings results on Friday. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05, FiscalAI reports. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%. The business had revenue of $410.10 million during the quarter, compared to analyst estimates of $404.67 million. During the same period in the prior year, the company posted $0.75 earnings per share. Hess Midstream Partners’s revenue was down 2.6% on a year-over-year basis.

Hess Midstream Partners Price Performance

Shares of HESM stock opened at $32.70 on Friday. The stock’s fifty day moving average is $36.52 and its 200-day moving average is $37.94. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $6.74 billion, a PE ratio of 11.20 and a beta of 0.58. Hess Midstream Partners has a 52 week low of $29.52 and a 52 week high of $41.44.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be paid a $0.7985 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend is Thursday, November 5th. Hess Midstream Partners’s payout ratio is presently 108.97%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target for the company. in a research note on Friday, October 2nd. Barclays set a $32.00 price target on shares of Hess Midstream Partners in a report on Friday, October 23rd. Weiss Ratings lowered shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. UBS Group decreased their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, 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 for the company in a report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hess Midstream Partners has an average rating of “Reduce” and a consensus price target of $34.00.

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.