Hess Midstream Partners LP (HESM) Plans Special Dividend of $0.27

Hess Midstream Partners LP (NASDAQ:HESM) declared a special dividend on Wednesday, July 26th, Wall Street Journal reports. Investors of record on Friday, August 4th will be given a dividend of 0.2703 per share on Monday, August 14th. The ex-dividend date is Wednesday, August 2nd.

Hess Midstream Partners (NASDAQ:HESM) opened at 19.67 on Friday. The company has a 50-day moving average price of $19.47 and a 200-day moving average price of $22.25. The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of 7.86. Hess Midstream Partners has a 12-month low of $18.33 and a 12-month high of $26.78.

Hess Midstream Partners (NASDAQ:HESM) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.02. The company had revenue of $138.30 million during the quarter, compared to analysts’ expectations of $111.37 million. On average, equities research analysts forecast that Hess Midstream Partners will post $0.93 earnings per share for the current year.

Several analysts have recently weighed in on the company. Citigroup Inc. assumed coverage on Hess Midstream Partners in a research note on Tuesday, May 2nd. They set a “neutral” rating and a $28.00 target price for the company. Morgan Stanley assumed coverage on Hess Midstream Partners in a research note on Monday, May 1st. They set a “weight” rating and a $27.00 target price for the company. Goldman Sachs Group, Inc. (The) assumed coverage on Hess Midstream Partners in a research note on Monday, May 1st. They set a “buy” rating and a $32.00 target price for the company. J P Morgan Chase & Co assumed coverage on Hess Midstream Partners in a research note on Monday, May 1st. They set an “overweight” rating and a $30.00 target price for the company. Finally, Scotiabank set a $31.00 target price on Hess Midstream Partners and gave the company a “buy” rating in a research note on Friday, May 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.83.

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Hess Midstream Partners Company Profile

Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).

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