Hess Midstream (HESM) to Release Earnings on Thursday

Hess Midstream (NYSE:HESM) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 31st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $358.86 million. Hess Midstream had a net margin of 8.79% and a return on equity of 28.21%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, analysts expect Hess Midstream to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Hess Midstream Price Performance

HESM opened at $34.74 on Thursday. The stock has a fifty day moving average price of $34.85 and a 200 day moving average price of $32.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 8.81. Hess Midstream has a 1 year low of $26.86 and a 1 year high of $36.84. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 16.62 and a beta of 1.50.

Hess Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.6343 per share. The ex-dividend date was Wednesday, February 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62. This represents a $2.54 dividend on an annualized basis and a dividend yield of 7.30%. Hess Midstream’s dividend payout ratio (DPR) is 121.53%.

Analyst Upgrades and Downgrades

Several research firms have commented on HESM. JPMorgan Chase & Co. increased their target price on shares of Hess Midstream from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group boosted their target price on Hess Midstream from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hess Midstream presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

Insider Buying and Selling

In other news, Director Infrastructure Investor Global sold 11,500,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.83, for a total value of $377,545,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HESM. Goldman Sachs Group Inc. grew its position in Hess Midstream by 50.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,966,157 shares of the company’s stock worth $58,985,000 after buying an additional 659,514 shares in the last quarter. Morgan Stanley grew its holdings in shares of Hess Midstream by 42.0% during the 3rd quarter. Morgan Stanley now owns 1,239,154 shares of the company’s stock worth $36,097,000 after purchasing an additional 366,276 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Hess Midstream by 92.5% during the first quarter. Clearbridge Investments LLC now owns 996,894 shares of the company’s stock valued at $29,907,000 after purchasing an additional 478,894 shares during the period. JPMorgan Chase & Co. increased its position in shares of Hess Midstream by 72.0% during the third quarter. JPMorgan Chase & Co. now owns 752,306 shares of the company’s stock valued at $21,915,000 after purchasing an additional 314,870 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Hess Midstream by 32.0% in the first quarter. First Trust Advisors LP now owns 683,281 shares of the company’s stock valued at $20,498,000 after purchasing an additional 165,667 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Hess Midstream Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.