Hess Midstream Partners (NYSE:HESM) announced its earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02, MarketWatch Earnings reports. Hess Midstream Partners had a net margin of 10.34% and a return on equity of 2.48%. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $169.15 million.
NYSE:HESM traded down $1.11 during trading hours on Thursday, reaching $21.37. 104,500 shares of the company were exchanged, compared to its average volume of 87,773. The company has a market cap of $589.07 million, a P/E ratio of 18.76, a P/E/G ratio of 1.31 and a beta of 1.97. Hess Midstream Partners has a 52-week low of $18.32 and a 52-week high of $24.51.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.3575 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.43 dividend on an annualized basis and a yield of 6.69%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.35.
A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, July 31st. TheStreet upgraded shares of Hess Midstream Partners from a “d+” rating to a “c” rating in a research report on Tuesday, September 11th. Credit Suisse Group assumed coverage on shares of Hess Midstream Partners in a research report on Thursday, October 11th. They set an “outperform” rating and a $29.00 target price on the stock. Citigroup raised their target price on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Morgan Stanley raised their target price on shares of Hess Midstream Partners from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Hess Midstream Partners presently has an average rating of “Buy” and a consensus price target of $27.00.
Hess Midstream Partners Company Profile
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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