Hess Midstream Partners (NYSE:HESM) Announces Quarterly Earnings Results

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

Hess Midstream Partners Stock Up 1.4%

Shares of NYSE:HESM traded up $0.45 during midday trading on Friday, hitting $32.70. 3,513,762 shares of the company’s stock were exchanged, compared to its average volume of 1,722,630. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77. Hess Midstream Partners has a 12 month low of $29.52 and a 12 month high of $41.44. The company has a market cap of $6.74 billion, a PE ratio of 11.28 and a beta of 0.58. The stock has a 50 day moving average price of $36.65 and a 200-day moving average price of $37.95.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.7985 per share. The ex-dividend date of this dividend is Thursday, November 5th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 annualized dividend and a dividend yield of 9.8%. Hess Midstream Partners’s payout ratio is presently 110.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group cut 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 report on Tuesday, October 13th. Barclays set a $32.00 target price on Hess Midstream Partners in a research report on Friday, October 23rd. Citigroup dropped their price target on Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. lowered Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a report on Friday, October 2nd. Finally, Weiss Ratings cut Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Two equities research 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. Based on data from MarketBeat, Hess Midstream Partners has an average rating of “Reduce” and a consensus price target of $34.00.

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.