Hess Midstream LP (NYSE:HESM – Get Free Report) announced a quarterly dividend on Monday, January 29th, Wall Street Journal reports. Investors of record on Thursday, February 8th will be given a dividend of 0.6343 per share on Wednesday, February 14th. This represents a $2.54 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Wednesday, February 7th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.62.
Hess Midstream has increased its dividend payment by an average of 11.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Hess Midstream has a payout ratio of 81.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Hess Midstream to earn $2.89 per share next year, which means the company should continue to be able to cover its $2.54 annual dividend with an expected future payout ratio of 87.9%.
Hess Midstream Trading Up 1.3 %
NYSE HESM opened at $34.67 on Tuesday. The business has a 50 day simple moving average of $32.13 and a 200 day simple moving average of $30.79. Hess Midstream has a one year low of $25.63 and a one year high of $34.75. The stock has a market capitalization of $7.96 billion, a P/E ratio of 16.59 and a beta of 1.51. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.79 and a quick ratio of 0.79.
Analysts Set New Price Targets
Separately, Raymond James increased their price target on Hess Midstream from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.80.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in HESM. Vanguard Group Inc. lifted its holdings in shares of Hess Midstream by 6.0% in the third quarter. Vanguard Group Inc. now owns 396,750 shares of the company’s stock valued at $11,557,000 after purchasing an additional 22,327 shares in the last quarter. American Century Companies Inc. increased its position in Hess Midstream by 8.1% in the third quarter. American Century Companies Inc. now owns 53,537 shares of the company’s stock worth $1,560,000 after buying an additional 4,028 shares during the last quarter. Walleye Trading LLC purchased a new position in shares of Hess Midstream in the third quarter valued at $211,000. Comerica Bank purchased a new position in shares of Hess Midstream in the third quarter valued at $287,000. Finally, Morgan Stanley grew its position in shares of Hess Midstream by 42.0% in the third quarter. Morgan Stanley now owns 1,239,154 shares of the company’s stock valued at $36,097,000 after purchasing an additional 366,276 shares in the last quarter. Institutional investors own 86.34% of the company’s stock.
Hess Midstream Company Profile
Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company 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.
- Five stocks we like better than Hess Midstream
- How to Invest in Esports
- Is Humana’s pain HCA Healthcare’s gain?
- How to invest in blue chip stocks
- Skechers stocks trips on inventory bloat, but there’s an upside
- What Are Utility Stocks? An Overview of the Utilities Sector
- 3 transportation stocks gearing up for a new rally
Receive News & Ratings for Hess Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Midstream and related companies with MarketBeat.com's FREE daily email newsletter.