Hess Midstream Partners LP (HESM) To Go Ex-Dividend on August 6th

Hess Midstream Partners LP (NYSE:HESM) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Thursday, August 6th will be given a dividend of 0.7888 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 7.7%. 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 increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Hess Midstream Partners has a payout ratio of 96.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Hess Midstream Partners to earn $3.01 per share next year, which means the company may not be able to cover its $3.15 annual dividend with an expected future payout ratio of 104.7%.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $40.79 on Tuesday. The firm has a market cap of $8.41 billion, a PE ratio of 14.11 and a beta of 0.52. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $38.76 and its two-hundred day moving average price is $38.26. Hess Midstream Partners has a one year low of $31.63 and a one year high of $43.43.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, research analysts expect that Hess Midstream Partners will post 2.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Hess Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Grove Bank & Trust purchased a new position in Hess Midstream Partners during the second quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in Hess Midstream Partners in the 4th quarter worth approximately $44,000. IFP Advisors Inc boosted its holdings in Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the period. CENTRAL TRUST Co boosted its holdings in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

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.