Hess Midstream Partners LP (HESM) Plans Quarterly Dividend of $0.38

Hess Midstream Partners LP (NYSE:HESM) declared a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Stockholders of record on Friday, May 3rd will be given a dividend of 0.3833 per share on Tuesday, May 14th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.37.

NYSE:HESM opened at $22.94 on Thursday. The company has a market capitalization of $624.56 million, a PE ratio of 18.06, a PEG ratio of 1.45 and a beta of 1.60. Hess Midstream Partners has a 1-year low of $16.17 and a 1-year high of $24.51.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Wednesday, January 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $171.20 million during the quarter, compared to analyst estimates of $171.85 million. Hess Midstream Partners had a net margin of 10.54% and a return on equity of 2.63%. Analysts forecast that Hess Midstream Partners will post 1.43 EPS for the current year.

In related news, CFO Jonathan C. Stein sold 1,381 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $22.63, for a total value of $31,252.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 2,714 shares of company stock valued at $60,318.

HESM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Hess Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Wells Fargo & Co restated a “market perform” rating and issued a $24.00 target price (down from $27.00) on shares of Hess Midstream Partners in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.33.

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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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.

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Dividend History for Hess Midstream Partners (NYSE:HESM)

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