Hess Midstream Partners LP (NYSE:HESM) Plans Dividend Increase - $0.78 Per Share

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) declared a quarterly dividend on Monday, April 27th. Stockholders of record on Thursday, May 7th will be paid a dividend of 0.7792 per share on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Thursday, May 7th. This is a 2.0% increase from Hess Midstream Partners's previous quarterly dividend of $0.76.

Hess Midstream Partners has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Hess Midstream Partners has a payout ratio of 93.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Hess Midstream Partners to earn $3.13 per share next year, which means the company should continue to be able to cover its $3.05 annual dividend with an expected future payout ratio of 97.4%.

Hess Midstream Partners Price Performance

Shares of HESM opened at $37.05 on Tuesday. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $44.14. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 12.96 and a beta of 0.58. The business has a 50-day moving average of $38.67 and a 200-day moving average of $35.74.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.72. The company had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The firm's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, equities research analysts anticipate that Hess Midstream Partners will post 2.97 earnings per share for the current year.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.