Hess Midstream Stock (NYSE:HESM), Trade Ideas

Hess Midstream

Hess Midstream LP owns, operates, develops, and acquires a diverse set of midstream assets and provides fee-based services to Hess and third-party customers. It conducts its business through three operating segments: gathering, processing and storage, and terminaling and exporting. The company derives the maximum revenue from the gathering segment. Its gathering segment consists of the following assets namely Natural Gas Gathering and Compression; Crude Oil Gathering and Produced Water Gathering and Disposal.

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Hess Midstream LP

JP Morgan analyst Jeremy Tonet maintains Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) with a Neutral and raises the price target from $37 to $38.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Hess Midstream, Raises Price Target to $38

Hess Midstream LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) (&quot;Hess Midstream&quot;), today announced the execution of a definitive agreement providing for the repurchase of approximately&nbsp;$100 million&nbsp;of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream&#39;s sponsors (the &quot;Sponsors&quot;). The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream&#39;s general partner, based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors.
&quot;We continue to execute unit repurchase transactions as part of our unique and differentiated financial strategy, which prioritizes shareholder returns and a strong balance sheet,&quot; said Jonathan Stein, Chief Financial Officer of Hess Midstream. &quot;Since the beginning of 2021 through this current transaction, we will have returned&nbsp;$1.65 billion&nbsp;to shareholders through ongoing unit repurchases from our Sponsors that have reduced the total unit count by over&nbsp;20%. Following this unit repurchase, which is expected to provide immediate accretion to our shareholders, we expect to continue to have more than&nbsp;$1.25 billion&nbsp;of financial flexibility through 2026 that can be used to support potential incremental unit repurchases.&quot;
Pursuant to the terms of the repurchase agreement, the repurchased units will be cancelled upon the closing of the unit repurchase transaction, which is expected to result in increased distributable cash flow per Class A share providing capacity for incremental distribution growth above Hess Midstream&#39;s annual distribution target of at least&nbsp;5%&nbsp;through 2026, consistent with Hess Midstream&#39;s return of capital framework.
Unit Repurchase Summary
Hess Midstream Operations LP, Hess Midstream&#39;s consolidated subsidiary, agreed to repurchase 2,816,901 Class B units of Hess Midstream Operations LP, equal to approximately&nbsp;1.2%&nbsp;of the consolidated company, held by the Sponsors for an aggregate purchase price of approximately&nbsp;$100 million. The purchase price per Class B unit is&nbsp;$35.50, the closing price of the Class A shares on March 11, 2024. After completing the unit repurchase transaction, ownership of Hess Midstream on a consolidated basis will be approximately&nbsp;35.4%&nbsp;for the public,&nbsp;26.8%&nbsp;for Global Infrastructure Partners and&nbsp;37.8%&nbsp;for Hess Corporation. The unit repurchase is anticipated to close on March 14, 2024. Hess Midstream expects to fund the unit repurchase through borrowings under its existing revolving credit facility.

Offerings

Hess Midstream LP Announces Signing Of Accretive $100M Sponsor Unit Repurchase

JP Morgan analyst Jeremy Tonet downgrades Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) from Overweight to Neutral.

Downgrades

JP Morgan Downgrades Hess Midstream to Neutral

UBS analyst Brian Reynolds maintains Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) with a Buy and raises the price target from $35 to $38.

UBS Maintains Buy on Hess Midstream, Raises Price Target to $38

By the end of today, February 14, 2024, Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) is set to deliver a dividend payout of $0.63 per share, equating to an annualized dividend yield of 7.48%. Shareholders who owned the stock prior to the ex-dividend date on February 07, 2024 will receive this payout.
<h3>Hess Midstream Recent Dividend Payouts</h3>
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<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2024-02-07</td>
<td style="text-align: right;">4</td>
<td>$0.63</td>
<td>7.48%</td>
<td>2024-01-29</td>
<td>2024-02-08</td>
<td>2024-02-14</td>
</tr>
<tr>
<td>2023-11-01</td>
<td style="text-align: right;">4</td>
<td>$0.62</td>
<td>8.09%</td>
<td>2023-10-23</td>
<td>2023-11-02</td>
<td>2023-11-14</td>
</tr>
<tr>
<td>2023-08-02</td>
<td style="text-align: right;">4</td>
<td>$0.6</td>
<td>7.62%</td>
<td>2023-07-24</td>
<td>2023-08-03</td>
<td>2023-08-14</td>
</tr>
<tr>
<td>2023-05-03</td>
<td style="text-align: right;">4</td>
<td>$0.59</td>
<td>8.12%</td>
<td>2023-04-24</td>
<td>2023-05-04</td>
<td>2023-05-12</td>
</tr>
<tr>
<td>2023-02-01</td>
<td style="text-align: right;">4</td>
<td>$0.57</td>
<td>7.32%</td>
<td>2023-01-23</td>
<td>2023-02-02</td>
<td>2023-02-13</td>
</tr>
<tr>
<td>2022-11-02</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>8.26%</td>
<td>2022-10-24</td>
<td>2022-11-03</td>
<td>2022-11-14</td>
</tr>
<tr>
<td>2022-08-03</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>7.91%</td>
<td>2022-07-25</td>
<td>2022-08-04</td>
<td>2022-08-12</td>
</tr>
<tr>
<td>2022-05-04</td>
<td style="text-align: right;">4</td>
<td>$0.55</td>
<td>6.99%</td>
<td>2022-04-25</td>
<td>2022-05-05</td>
<td>2022-05-13</td>
</tr>
<tr>
<td>2022-02-02</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>7.27%</td>
<td>2022-01-24</td>
<td>2022-02-03</td>
<td>2022-02-14</td>
</tr>
<tr>
<td>2021-11-03</td>
<td style="text-align: right;">4</td>
<td>$0.51</td>
<td>7.68%</td>
<td>2021-10-25</td>
<td>2021-11-04</td>
<td>2021-11-12</td>
</tr>
<tr>
<td>2021-08-06</td>
<td style="text-align: right;">4</td>
<td>$0.5</td>
<td>8.63%</td>
<td>2021-07-28</td>
<td>2021-08-09</td>
<td>2021-08-13</td>
</tr>
<tr>
<td>2021-04-30</td>
<td style="text-align: right;">4</td>
<td>$0.45</td>
<td>8.13%</td>
<td>2021-04-23</td>
<td>2021-05-03</td>
<td>2021-05-13</td>
</tr>
</tbody>
</table>
When comparing Hess Midstream's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer TORM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMD#NASDAQ">TRMD</a>) having the highest annualized dividend yield at 17.14%.
<h3>Analyzing Hess Midstream Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707923104_0.png" alt="dividend chart graph" />
From 2020 to 2023, the company's dividend per share showed a positive trend, increasing steadily from $1.73 in 2020 to $2.37 in 2023. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.
<h3>YoY Earnings Growth For Hess Midstream</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707923104_1.png" alt="earning chart graph" />
From 2020 to 2023, Hess Midstream experienced a growth in earnings per share, with an increase from $1.23 to $2.03. This positive earnings trend indicates the company's potential to enhance their cash dividend payout, which can benefit income-seeking investors.
<h3>Recap</h3>
This article delves into the recent dividend payout of Hess Midstream and its implications for shareholders. Presently, the company is distributing a dividend of $0.63 per share, leading to an annualized dividend yield of 7.48%.
When comparing Hess Midstream's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer TORM having the highest annualized dividend yield at 17.14%.
Considering the increase in dividend per share from 2020 to 2023 along with an increase in earnings per share, Hess Midstream appears to be in a strong financial position, indicating their ability to sustain dividend distributions to investors.
Investors are advised to closely monitor the company's performance in the upcoming quarters to stay informed about any fluctuations in financials or dividend disbursements.
[Track real-time stock fluctuations for Hess Midstream on Benzinga.](https://www.benzinga.com/quote/Hess Midstream (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hesm#NYSE">HESM</a>))
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dividends

TRMD

Overcoming Challenges and Adapting: Hess Midstream Navigates to Reward InvestorsDriving Profitability and Investor Rewards: Hess Midstream Delivers Strong Performance and Growing Profits

Hess Midstream LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) (&quot;HESM&quot;) today announced the pricing of the previously announced underwritten public offering of an aggregate of 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the &quot;Selling Shareholder&quot;), resulting in gross proceeds of&nbsp;$331 million, exclusive of any proceeds that may be received in connection with the exercise of the underwriter&#39;s option to purchase additional shares. The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.

Hess Midstream Announces Pricing Of 10M Class A Shares Secondary Offering For $331M In Gross Proceeds

Hess Midstream LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) ("HESM") today announced the commencement of an underwritten public offering of an aggregate of 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the "Selling Shareholder"). The Selling Shareholder intends to grant the underwriters a 30-day option to purchase up to 1,500,000 additional Class A shares. HESM will not receive any proceeds from the sale of Class A shares in the offering.
Citigroup is acting as the bookrunning manager of the offering. The underwriter intends to offer the Class A shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the SEC's website at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53892428&amp;newsitemid=20240205386495&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=62d35eb45df5d3250feb0299803874f7">www.sec.gov</a> under HESM's name or from Citigroup as follows:

Hess Midstream LP Announces Secondary Public Offering Of 10M Class A Shares

Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) reported quarterly earnings of $0.55 per share which missed the analyst consensus estimate of $0.63 by 12.7 percent. This is a 12.24 percent increase over earnings of $0.49 per share from the same period last year. The company reported quarterly sales of $356.50 million which missed the analyst consensus estimate of $358.86 million by 0.66 percent. This is a 13.32 percent increase over sales of $314.60 million the same period last year.

Earnings

Hess Midstream Q4 Gaap EPS $0.55 Misses $0.63 Estimate, Sales $356.50M Miss $358.86M Estimate

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&bull; Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) is likely to report quarterly earnings at $0.65 per share on revenue of $8.82 billion.
&bull; Regis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGS#NASDAQ">RGS</a>) is likely to report quarterly loss at $1.19 per share on revenue of $52.94 million.
&bull; Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is projected to report quarterly loss at $0.74 per share on revenue of $21.12 billion.
&bull; Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) is likely to report quarterly earnings at $1.47 per share on revenue of $2.60 billion.
&bull; Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) is expected to report quarterly earnings at $3.48 per share on revenue of $1.14 billion.
&bull; Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $1.03 billion.
&bull; Evercore (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVR#NYSE">EVR</a>) is expected to report quarterly earnings at $1.66 per share on revenue of $715.79 million.
&bull; Aptiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) is estimated to report quarterly earnings at $1.32 per share on revenue of $5.04 billion.
&bull; Brinker International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) is expected to report quarterly earnings at $0.96 per share on revenue of $1.08 billion.
&bull; Cencora (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>) is likely to report earnings for its first quarter.
&bull; CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) is likely to report quarterly earnings at $1.36 per share on revenue of $2.68 billion.
&bull; Mastercard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) is likely to report quarterly earnings at $3.08 per share on revenue of $6.48 billion.
&bull; Avnet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) is likely to report quarterly earnings at $1.40 per share on revenue of $6.17 billion.
&bull; Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) is projected to report quarterly earnings at $0.63 per share on revenue of $357.92 million.
&bull; M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) is estimated to report quarterly earnings at $4.94 per share on revenue of $1.19 billion.
&bull; Fortive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) is estimated to report quarterly earnings at $0.94 per share on revenue of $1.56 billion.
&bull; Radcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDCM#NASDAQ">RDCM</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $13.55 million.
&bull; Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) is likely to report quarterly loss at $1.43 per share on revenue of $85.16 million.
&bull; Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) is likely to report quarterly earnings at $2.85 per share on revenue of $1.50 billion.
&bull; Rockwell Automation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) is projected to report quarterly earnings at $2.63 per share on revenue of $2.10 billion.
&bull; Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) is projected to report quarterly earnings at $2.10 per share on revenue of $4.66 billion.
&bull; Silgan Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLGN#NYSE">SLGN</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $1.39 billion.
&bull; Columbus McKinnon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCO#NASDAQ">CMCO</a>) is projected to report quarterly earnings at $0.68 per share on revenue of $250.34 million.
&bull; Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) is estimated to report quarterly earnings at $10.48 per share on revenue of $4.41 billion.
&bull; Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) is expected to report quarterly earnings at $5.64 per share on revenue of $10.73 billion.
&bull; GSK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $9.61 billion.
&bull; Nomura Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) is projected to report earnings for its third quarter.
&bull; Extreme Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXTR#NASDAQ">EXTR</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $295.61 million.
&bull; New York Community (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $803.17 million.
&bull; Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) is likely to report quarterly earnings at $2.34 per share on revenue of $36.29 billion.
&bull; Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) is projected to report quarterly earnings at $0.76 per share on revenue of $4.01 billion.
&bull; Roper Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) is expected to report quarterly earnings at $4.34 per share on revenue of $1.58 billion.
&bull; Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) is projected to report quarterly earnings at $2.16 per share on revenue of $2.09 billion.
&bull; MarketAxess Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTX#NASDAQ">MKTX</a>) is projected to report quarterly earnings at $1.73 per share on revenue of $195.93 million.
&bull; Otis Worldwide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) is estimated to report quarterly earnings at $0.86 per share on revenue of $3.57 billion.
&bull; Navient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $201.17 million.
&bull; Central Pacific Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPF#NYSE">CPF</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $50.78 million.
&bull; Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) is estimated to report quarterly earnings at $0.51 per share on revenue of $3.59 billion.
&bull; Banco Santander (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>) is estimated to report earnings for its fourth quarter.
&bull; United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $1.70 billion.
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&bull; Keysight Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) is projected to report earnings for its first quarter.
&bull; EZCORP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EZPW#NASDAQ">EZPW</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $296.28 million.
&bull; Markel Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKL#NYSE">MKL</a>) is estimated to report quarterly earnings at $21.36 per share on revenue of $3.76 billion.
&bull; John B Sanfilippo &amp; Son (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBSS#NASDAQ">JBSS</a>) is estimated to report earnings for its second quarter.
&bull; Unifi (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UFI#NYSE">UFI</a>) is likely to report quarterly loss at $0.85 per share on revenue of $135.57 million.
&bull; Credit Acceptance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CACC#NASDAQ">CACC</a>) is expected to report quarterly earnings at $5.99 per share on revenue of $460.96 million.
&bull; SEI Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEIC#NASDAQ">SEIC</a>) is projected to report quarterly earnings at $0.92 per share on revenue of $479.93 million.
&bull; Good Times Restaurants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTIM#NASDAQ">GTIM</a>) is estimated to report earnings for its first quarter.
&bull; Selective Insurance Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGI#NASDAQ">SIGI</a>) is estimated to report quarterly earnings at $1.94 per share on revenue of $958.13 million.
&bull; Hanover Insurance Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THG#NYSE">THG</a>) is expected to report quarterly earnings at $2.73 per share on revenue of $1.41 billion.
&bull; Brandywine Realty Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDN#NYSE">BDN</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $135.47 million.
&bull; DLH Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLHC#NASDAQ">DLHC</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $101.00 million.
&bull; AvalonBay Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>) is estimated to report quarterly earnings at $1.34 per share on revenue of $701.24 million.
&bull; Boot Barn Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) is likely to report quarterly earnings at $1.77 per share on revenue of $521.22 million.
&bull; C.H. Robinson Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) is projected to report quarterly earnings at $0.81 per share on revenue of $4.34 billion.
&bull; 8x8 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $183.49 million.
&bull; Axis Capital Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXS#NYSE">AXS</a>) is estimated to report quarterly earnings at $1.08 per share on revenue of $1.23 billion.
&bull; Hawkins (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWKN#NASDAQ">HWKN</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $221.24 million.
&bull; Accuray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARAY#NASDAQ">ARAY</a>) is projected to report quarterly loss at $0.05 per share on revenue of $106.67 million.
&bull; Wolfspeed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) is likely to report quarterly loss at $0.66 per share on revenue of $206.25 million.
&bull; Kulicke &amp; Soffa Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>) is projected to report quarterly earnings at $0.26 per share on revenue of $172.01 million.
&bull; MaxLinear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NASDAQ">MXL</a>) is expected to report quarterly earnings at $0.01 per share on revenue of $125.11 million.
&bull; Flex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $6.73 billion.
&bull; Aflac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>) is likely to report quarterly earnings at $1.45 per share on revenue of $4.40 billion.
&bull; Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) is expected to report quarterly earnings at $2.28 per share on revenue of $896.79 million.
&bull; Digi Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGII#NASDAQ">DGII</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $105.61 million.
&bull; Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) is estimated to report quarterly earnings at $2.37 per share on revenue of $9.51 billion.
&bull; BrightView Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) is likely to report quarterly earnings at $0.04 per share on revenue of $645.09 million.
&bull; Qorvo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) is projected to report quarterly earnings at $1.66 per share on revenue of $1.00 billion.
&bull; UGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGI#NYSE">UGI</a>) is estimated to report quarterly earnings at $1.05 per share on revenue of $2.67 billion.
&bull; MagnaChip Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MX#NYSE">MX</a>) is likely to report quarterly loss at $0.26 per share on revenue of $52.47 million.
&bull; Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $127.92 million.
&bull; Meritage Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) is likely to report quarterly earnings at $5.17 per share on revenue of $1.53 billion.
&bull; Corteva (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $3.62 billion.
&bull; MetLife (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>) is expected to report quarterly earnings at $1.90 per share on revenue of $18.46 billion.
&bull; Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) is expected to report quarterly earnings at $1.62 per share on revenue of $1.24 billion.
&bull; Rayonier (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYN#NYSE">RYN</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $229.75 million.
&bull; MGIC Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTG#NYSE">MTG</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $292.72 million.
&bull; NEXTracker (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $619.23 million.
&bull; Conmed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNMD#NYSE">CNMD</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $332.20 million.
&bull; Landmark Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LARK#NASDAQ">LARK</a>) is likely to report earnings for its fourth quarter.
&bull; PTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NASDAQ">PTC</a>) is expected to report quarterly earnings at $0.96 per share on revenue of $538.63 million.
&bull; Align Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>) is expected to report quarterly earnings at $2.16 per share on revenue of $931.35 million.
&bull; Vista Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) is estimated to report quarterly earnings at $0.81 per share on revenue of $687.67 million.
&bull; Tetra Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>) is likely to report quarterly earnings at $1.34 per share on revenue of $990.66 million.
&bull; Benchmark Electronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHE#NYSE">BHE</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $707.50 million.
&bull; NewMarket (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEU#NYSE">NEU</a>) is likely to report earnings for its fourth quarter.
&bull; Cimpress (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPR#NASDAQ">CMPR</a>) is expected to report quarterly earnings at $1.24 per share on revenue of $892.10 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For January 31, 2024

Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-01-31. Here's what investors need to know before the announcement.
Analysts estimate that Hess Midstream will report an earnings per share (EPS) of $0.63. 
Hess Midstream bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.02, which was followed by a 0.33% drop in the share price the next day.
Here's a look at Hess Midstream's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.55</td>
<td>0.48</td>
<td>0.47</td>
<td>0.54</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.57</td>
<td>0.50</td>
<td>0.47</td>
<td>0.49</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.33%</td>
<td>-0.29%</td>
<td>2.19%</td>
<td>1.07%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706641272_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Hess Midstream were trading at $34.05 as of January 29. Over the last 52-week period, shares are up 14.58%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/HESM/earnings">To track all earnings releases for Hess Midstream visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Hess Midstream's Earnings

Hess Midstream LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) ("Hess Midstream"), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream's sponsors (the "Sponsors"). The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream's general partner, based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors.
"We continue to execute unit repurchase transactions as part of our unique and differentiated financial strategy, which prioritizes consistent and ongoing return of capital to our shareholders," said Jonathan Stein, Chief Financial Officer of Hess Midstream. "Since the beginning of 2021 through this current transaction, we will have returned $1.55 billion to shareholders through accretive unit repurchases from our Sponsors that have reduced the total unit count by approximately 20%. Following this unit repurchase, which is expected to provide immediate accretion to our shareholders, we expect to continue to have more than $1 billion of financial flexibility through 2025 that can be used to support potential incremental unit repurchases."
Pursuant to the terms of the repurchase agreement, the repurchased units will be cancelled upon the closing of the unit repurchase transaction, which is expected to result in increased distributable cash flow per Class A share providing capacity for incremental distribution growth above Hess Midstream's annual distribution target of at least 5% through 2025, consistent with Hess Midstream's return of capital framework.
Unit Repurchase Summary
Hess Midstream Operations LP, Hess Midstream's consolidated subsidiary, agreed to repurchase 3,370,407 Class B units of Hess Midstream Operations LP, equal to approximately 1.5% of the consolidated company, held by the Sponsors for an aggregate purchase price of approximately $100 million. The purchase price per Class B unit is $29.67, the closing price of the Class A shares on November 13, 2023. After completing the unit repurchase transaction, ownership of Hess Midstream on a consolidated basis will be approximately 29.8% for the public, 32.4% for Global Infrastructure Partners and 37.8% for Hess Corporation. The unit repurchase is anticipated to close on November 16, 2023. Hess Midstream expects to fund the unit repurchase through borrowings under its existing revolving credit facility.

Buybacks

Tuesday marks the last chance for investors to receive the next dividend payout from Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>). 
<h3>What's Happening</h3>
The company announced on Monday that it would pay shareholders a quarterly dividend of 61.75 cents per share. On Wednesday, Hess Midstream will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 61.75 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own HESM as of the end of Tuesday's session are eligible to receive the 61.75 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on November 14, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/HESM">See current stock movements Hess Midstream on Benzinga.</a>

Hess Midstream: Dividend Insights

Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.55 by 3.64 percent. This is a 7.55 percent increase over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $363.10 million which beat the analyst consensus estimate of $342.38 million by 6.05 percent. This is a 8.45 percent increase over sales of $334.80 million the same period last year.

Hess Midstream Q3 GAAP EPS $0.57 Beats $0.55 Estimate, Sales $363.10M Beat $342.38M Estimate

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Earnings Scheduled For October 25, 2023

Raymond James analyst JR Weston maintains Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) with a Outperform and raises the price target from $35 to $38.

Raymond James Maintains Outperform on Hess Midstream, Raises Price Target to $38

With volatile commodity prices, energy stocks can see wild swings from time to time. But investors don't necessarily have to actively trade stocks to make money in the sector. They can also collect dividends.
With the right dividend stocks, investors can bypass the stress and uncertainty associated with attempting to time the market, all while benefiting from a passive income stream.
Business magnate John D. Rockefeller once said, "Do you know the only thing that gives me pleasure? It's to see my dividends coming in."
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> Jeff Bezos-backed startup</a> will allow you to become a landlord in just 10 minutes and you only need $100.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/buffett-favorite-dividend-stock">Here's how to collect $1,000 per month from Buffett's favorite dividend stock.</a></li>
</ul>
But most companies don't pay much these days. The average dividend yield of S&amp;P 500 companies is now just 1.6%.
Still, some companies offer a far more generous yield. Here's a look at two energy stocks Wall Street analysts find especially appealing — both boasting yields of over 8%.
<h2 class="wp-block-heading">Hess Midstream LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>)</h2>
Hess Midstream owns, operates and develops a diverse set of midstream assets to provide services to Hess Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) and third-party customers. Its oil, gas and produced water handling assets are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Hess Midstream's business is backed by fee-based contracts that help minimize commodity price exposure.
For the second quarter of 2023, the company paid a quarterly cash distribution of 60.11 cents per share, which represented a 2.7% increase from its first-quarter distribution. At the current share price, the latest payout translates to an annual yield of 8.1%.
In the second-quarter earnings report, the company revealed that it generated $202.6 million of distributable cash flow (DCF), which covered its payout for the quarter approximately 1.4 times.
Going forward, management is targeting at least 5% annual distribution growth through 2025 while maintaining an annual distribution coverage of at least 1.4 times.
Goldman Sachs analyst John Mackay has a Buy rating on Hess Midstream and a price target of $32, implying a potential upside of 8%.
<h2 class="wp-block-heading">Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>)</h2>
Energy Transfer owns one of the largest portfolios of energy assets in the U.S.
With approximately 125,000 miles of pipelines and associated energy infrastructure, the partnership has a strategic network that spans 41 states and all of the major production basins in the country.
In July, Energy Transfer announced a quarterly cash distribution of 31 cents per unit. At the current unit price, the amount comes out to an annual yield of 8.9%.
In the second quarter, Energy Transfer's distributable cash flow attributable to its partners totaled $1.55 billion. In the earnings conference call, Energy Transfer Co-CEO Tom Long pointed out that the amount "resulted in excess cash flow after distributions of $579 million."
The stock has climbed 19% in 2023, and Morgan Stanley analyst Robert Kad sees further upside on the horizon. The analyst has an Overweight rating on Energy Transfer and a price target of $17 — roughly 23% above where the stock currently sits.
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<li>Elon Musk has reportedly bought 6,000 acres of land just outside of Austin.<a href="https://research.benzinga.com/elon-musk-austin/"> Here&#8217;s how to invest in the city&#8217;s growth</a> before he floods it with new tech workers.</li>
<li>This REIT just teamed up with the company that built Elon Musk's tiny house to develop affordable housing communities. <a href="https://www.benzinga.com/alternative-investments/listing/future-of-housing-fund">Here's how you can be among the first to buy shares.</a></li>
</ul>

Goldman Sachs analyst John Mackay reinstates Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) with a Buy and announces $32 price target.

Initiation

Goldman Sachs Reinstates Buy on Hess Midstream, Announces $32 Price Target

Analysts have provided the following ratings for Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) within the last quarter: 
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
These 5 analysts have an average price target of $35.0 versus the current price of Hess Midstream at $27.97, implying upside.
Below is a summary of how these 5 analysts rated Hess Midstream over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1696528830_0.png" alt="price target chart" />
This average price target has increased by 1.16% over the past month.
<a href="https://www.benzinga.com/quote/HESM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Hess Midstream analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h1>How Are Analyst Ratings Determined?</h1>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings for Hess Midstream

UBS analyst Brian Reynolds maintains Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) with a Buy and lowers the price target from $37 to $36.

UBS Maintains Buy on Hess Midstream, Lowers Price Target to $36

The global gas market remains a significant contributor to the worldwide economy, propelled by rising demand, technological advancements, and geopolitical factors. Therefore, fundamentally strong gas stocks Energy Transfer (ET), MPLX (MPLX) and Hess Midstream Partners (HESM) might be ideal additions to your portfolio. Read on... The gas market is likely to benefit from dynamic movements in global energy markets this year. Natural gas is predicted to make a substantial contribution to a sustainable future as technology advances and infrastructure improves.
Given the industry's bright prospects, it could be wise to consider investing in fundamentally solid gas stocks Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), MPLX LP (<a href="https://stocknews.com/stock/MPLX/">MPLX</a>), and Hess Midstream Partners LP (<a href="https://stocknews.com/stock/HESM/">HESM</a>).
In January, the United States consumed <a href="https://www.eia.gov/outlooks/steo/">118 billion cubic feet of natural gas per day</a>, the most in any month on record, driven by the electric power sector. On January 16, 2024, a record high of <a href="https://www.eia.gov/todayinenergy/detail.php?id=61383">141.5 billion cubic feet per day (Bcf/d)</a> of natural gas was consumed in the U.S. Lower 48 states, surpassing the previous record set on December 23, 2022.
Residential and commercial consumption totaled 46 billion cubic feet per day (Bcf/d), which is 4 Bcf/d higher than January 2023. Natural gas use in the residential and commercial sectors peaks during the winter months due to increased demand for space heating.
The chilly weather boosted demand for space heating and energy generation by 5 Bcf/d in January compared with a year earlier, helping set a new January record of nearly 37 Bcf/d. Experts project residential and commercial <a href="https://www.eia.gov/outlooks/steo/report/natgas.php">natural gas consumption in the United States to rise modestly in 2024</a>, averaging 22 Bcf/d.
The oil and gas market will reach $7.63 trillion in 2024, growing at a <a href="https://www.researchandmarkets.com/reports/5939776/oil-gas-global-market-report">CAGR of 6.1%</a>. Increased crude oil and natural gas output, growth in the petrochemical sector, expansion of demand in developing countries, and increased investment in oil and gas exploration have all contributed to the historical expansion.
Also, in the February Short-Term Energy Outlook (STEO), the EIA forecast that the <a href="https://www.eia.gov/todayinenergy/detail.php?id=61385">U.S. benchmark Henry Hub natural gas spot price will average higher in 2024 and 2025</a> than in 2023 but will remain less than $3.00 per million British thermal units (MMBtu). They expect natural gas prices to rise in 2024 as demand is likely to outstrip supply.
Furthermore, several technological advancements are revolutionizing natural gas extraction, helping improve efficiency, safety, and yields while minimizing environmental impact.
Hydraulic fracturing, horizontal drilling, imaging technologies, and the Internet of Things <a href="https://energy5.com/the-emerging-technologies-in-natural-gas-exploration">are revolutionizing the natural gas extraction sector</a>. These technologies boost yields, lower drilling costs, improve safety, and help the environment.
Furthermore, given its range of applications, natural gas is expected to play a crucial role in the global energy transition. Global gas demand is projected to grow by approximately <a href="https://www.mckinsey.com/industries/oil-and-gas/our-insights/global-energy-perspective-2023-natural-gas-outlook">10% to 15% until 2035</a>.
With these encouraging market trends in mind, let's delve into the fundamentals of the three gas stocks.
Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET provides energy-related services. It owns and operates approximately 11,600 miles of natural gas transportation pipeline, three natural gas storage facilities, and two natural gas storage facilities in Texas and Oklahoma. Additionally, it manages 19,945 miles of interstate natural gas pipeline.
ET's trailing-12-month asset turnover ratio of 0.72x is 34.8% higher than the industry average of 0.53x.
During the fiscal fourth quarter that ended December 31, 2023, ET's revenues rose marginally year-over-year to $20.53 billion. Its operating income rose 19.9% year-over-year to $2.17 billion.
For the same quarter, the company's net income attributable to partners and net income per common unit came in at $1.33 billion and $0.37, respectively, up 14.9% and 8.8% over the prior-year quarter. In addition, its <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> increased 4.8% year-over-year to $3.60 billion.
Street expects ET's EPS and revenue for the quarter ending March 31, 2024, to increase 22.6% and 18.6% year-over-year to $0.39 and $22.53 billion, respectively. Over the past nine months, the stock has gained 15.7% to close the last trading session at $14.90.
ET's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade for Growth, Value, Momentum, Stability, and Sentiment. Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry, it is ranked #2 out of 83 stocks. To see ET's rating for Quality, <a href="https://stocknews.com/stock/ET/">click here</a>.
MPLX LP (<a href="https://stocknews.com/stock/MPLX/">MPLX</a>)
MPLX owns and operates midstream energy infrastructure and logistics assets. The company functions in two segments: Logistics and Storage and Gathering and Processing. It is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids.
MPLX's trailing-12-month levered FCF margin of 22.86% is 275.4% higher than the industry average of 6.09%. Its 36.78% trailing-12-month net income margin is 167.2% higher than the 13.76% industry average. Additionally, its 31.53% trailing-12-month ROCE is 72.8% higher than the 18.25% industry average.
For the fiscal fourth quarter that ended December 31, 2023, MPLX's total revenue and other income increased 11.4% year-over-year to $2.97 billion. Its income from operations was $1.37 billion, up 29.7% from the prior year's quarter.
Also, net income attributable to MPLX grew 39% and 41% year-over-year to $1.13 billion and 1.10 per limited partner unit, respectively. In addition, the company's adjusted EBITDA rose 11.6% from the year-ago value to $1.62 billion.
Analysts expect MPLX's revenue and EPS for the quarter ending March 31, 2024, to increase 7.7% and 6.9% year-over-year to $2.92 billion and $0.97, respectively.  Moreover, the company surpassed the consensus EPS estimates in each of the trailing four quarters. Shares of MPLX have gained 13.2% over the past year to close the last trading session at $39.51.
It's no surprise that MPLX has an overall A rating, equating to a Strong Buy in our POWR Ratings system.
It has a B grade for Growth, Momentum, Stability, Sentiment, and Quality. It is ranked first among the 24 stocks in the A-rated <a href="https://stocknews.com/category/oil-gas-mlps/">MLPs - Oil &amp; Gas</a> industry.
Beyond what is stated above, we've also rated MPLX for Value. Get all MPLX ratings <a href="https://stocknews.com/stock/MPLX/">here</a>.
Hess Midstream LP (<a href="https://stocknews.com/stock/HESM/">HESM</a>)
HESM owns, develops, operates, and acquires midstream assets, including natural gas and crude oil gathering systems, processing plants, storage facilities, and terminal assets across three segments: Gathering, Processing &amp; Storage, and Terminaling &amp; Export.
HESM's trailing-12-month EBIT margin of 60.57% is 184.5% higher than the 21.29% industry average. Its trailing-12-month levered FCF margin of 30.87% is 406.9% higher than the 6.09% industry average. Additionally, its 40.53% trailing-12-month ROCE is 122.1% higher than the 18.25% industry average.
HESM's net revenue for the fourth quarter ended December 31, 2023, increased 13.3% year-over-year to $356.50 million. Its income from operations grew 7.0% from the year-ago value to $210.10 million.
The company's net income attributable to HESM rose 72% year-over-year to $37.50 million. In addition, its net income attributable to HESM per Class A share stood at $0.55, representing an increase of 12.2% over the prior-year quarter. Also, HESM's adjusted EBITDA increased 7.7% year-over-year to $264.10 million.
For the quarter ending March 31, 2024, HESM's EPS and revenue are expected to increase 34% and 14.9% year-over-year to $0.63 and $350.40 million, respectively. Over the past year, the stock has gained 21.8% to close the last trading session at $34.67.
HESM's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which equates to a Buy in our proprietary rating system.
It is ranked first out of the two stocks in the A-rated <a href="https://stocknews.com/category/gas-mlps/">MLPs – Gas</a> industry. It has a B grade for Growth, Momentum, and Quality. To see the additional HESM ratings for Value, Stability, and Sentiment, <a href="https://stocknews.com/stock/HESM/">click here</a>.
What To Do Next?
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ET shares rose $0.02 (+0.13%) in premarket trading Tuesday. Year-to-date, ET has gained 10.40%, versus a 7.39% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rashmi Kumari</h2> <img src='https:/wp-content/uploads/2022/10/Rashmi-Kumari_headshot_2-1.jpg' style="float:left; padding:5px;width:125px;">Rashmi is passionate about capital markets, wealth management, and financial regulatory issues, which led her to pursue a career as an investment analyst. With a master's degree in commerce, she aspires to make complex financial matters understandable for individual investors and help them make appropriate investment decisions.<a href="https://stocknews.com/authors/?author=rashmi-kumari">More...</a>The post <a href=https://stocknews.com/news/et-mplx-hesm-navigate-market-volatility-with-these-3-gas-stocks/>Navigate Market Volatility With These 3 Gas Stocks</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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