Hess Midstream Partners LP (NYSE:HESM) Announces Dividend Increase – $0.80 Per Share

Hess Midstream Partners LP (NYSE:HESM) declared a quarterly dividend on Monday, October 26th. Investors of record on Thursday, November 5th will be given a dividend of $0.7985 per share on Friday, November 13th. This represents a $3.19 annualized dividend and a 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 increased its dividend payment 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 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 tumble. Equities 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 Stock Performance

NYSE:HESM opened at $31.18 on Tuesday. The company has a market cap of $6.43 billion, a P/E ratio of 10.75 and a beta of 0.58. Hess Midstream Partners has a twelve month low of $29.52 and a twelve month high of $41.44. The company’s 50-day moving average price is $37.13 and its 200-day moving average price is $37.97. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39.

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

About Hess Midstream Partners

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.