Hess Midstream Partners LP (NYSE:HESM) Increases Dividend to $0.80 Per Share

Hess Midstream Partners LP (NYSE:HESM) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.7985 per share on Friday, November 13th. This represents a $3.19 annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Thursday, November 5th. This is a 1.2% increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888.

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 96.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Hess Midstream Partners to earn $3.06 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 102.9%.

Hess Midstream Partners Trading Up 1.9%

Shares of HESM stock opened at $31.18 on Tuesday. The stock has a 50-day simple moving average of $37.13 and a 200 day simple moving average of $37.97. Hess Midstream Partners has a fifty-two week low of $29.52 and a fifty-two week high of $41.44. The stock has a market capitalization of $6.43 billion, a P/E ratio of 10.75 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $395.96 million. During the same period in the previous year, the company earned $0.74 earnings per share. Hess Midstream Partners’s revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Hess Midstream Partners will post 3.29 earnings per share for the current fiscal year.

Hess Midstream Partners Company Profile

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.