Hess Midstream P Stock Price, News & Analysis

Hess Midstream LP (NYSE: HESM) has announced the pricing of a secondary public offering of 15,022,517 Class A shares at $37.25 per share. The shares are being offered by an affiliate of Global Infrastructure Partners, a part of BlackRock (the Selling Shareholder). The offering is expected to generate gross proceeds of $559.59 million and close on May 30, 2025. J.P. Morgan and Citigroup are serving as joint bookrunning managers for the offering. Notably, HESM will not receive any proceeds from this secondary offering.

Hess Midstream LP (NYSE: HESM) has announced a secondary public offering of 15,022,517 Class A shares by an affiliate of Global Infrastructure Partners, a part of BlackRock (the Selling Shareholder). The offering will be managed by joint bookrunners J.P. Morgan and Citigroup. HESM will not receive any proceeds from this sale of Class A shares. The offering is being conducted through a shelf registration statement previously filed with the SEC, with shares available through the joint bookrunners.

Hess Midstream (NYSE: HESM) announced that its executives will participate in two upcoming investor conferences. Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President of Investor Relations, will meet with investors at the Annual Energy Infrastructure CEO & Investor Conference on May 21, 2025, and at the J.P. Morgan Energy, Power, Renewables & Mining Conference on June 24, 2025. The company will make its presentation materials available in the "Investors" section of their website at www.hessmidstream.com.

Hess Midstream (NYSE: HESM) has announced a $200 million accretive repurchase program, consisting of two parts: a $190 million repurchase of Class B units from sponsors Hess Corporation and BlackRock's Global Infrastructure Partners, and a $10 million accelerated share repurchase (ASR) of publicly traded Class A shares through JPMorgan Chase.

The Class B unit repurchase involves 5,151,842 units at $36.88 per unit, representing 2.4% of the consolidated company. Post-transaction ownership will be approximately 55.1% public, 7.1% Global Infrastructure Partners, and 37.8% Hess Corporation. Under the ASR, HESM will receive an initial delivery of 189,804 Class A shares, about 70% of expected repurchases.

Both transactions will be funded through HESM's existing credit facility and are expected to enhance distributable cash flow per share, supporting the company's target of at least 5% annual distribution growth through 2027.

Hess Midstream reported strong Q1 2025 financial results with net income of $161.4 million and basic earnings of $0.65 per Class A share. The company generated Adjusted EBITDA of $292.3 million and Adjusted Free Cash Flow of $190.7 million.

Key operational highlights include increased throughput volumes: 8% for gas processing, 7% for oil terminaling, and 9% for water gathering compared to Q1 2024. The company completed a $100 million repurchase of Class B units and increased quarterly cash distribution to $0.7098 per Class A share.

Despite challenging weather conditions, Hess Midstream maintained strong performance and reaffirmed its full-year 2025 guidance. The company issued $800 million in senior unsecured notes at 5.875% due 2028, using proceeds to redeem existing notes. Hess Midstream continues to target at least 5% annual distribution growth per Class A share through 2027.

Hess Midstream (NYSE: HESM) has announced a quarterly cash distribution increase for Q1 2025. The company will distribute $0.7098 per Class A share, representing a $0.0086 increase from Q4 2024.

This increase aligns with the company's strategic goal of achieving 5% growth in annual distributions per Class A share through 2027. The distribution will be paid on May 14, 2025, to shareholders of record as of May 8, 2025.

Key highlights:

• Quarterly distribution: $0.7098 per Class A share
• Quarter-over-quarter increase: $0.0086
• Expected financial flexibility: Over $1.25 billion through 2027

The company's CFO, Jonathan Stein, emphasized their commitment to executing their financial strategy, focusing on consistent shareholder returns. The available financial flexibility may support their return of capital framework, including potential unit repurchases that could lead to further distribution increases.

Hess Midstream (NYSE: HESM) has announced its upcoming first quarter 2025 earnings release conference call, scheduled for Wednesday, April 30, 2025, at 12:00 p.m. Eastern Time. Participants interested in joining the call must pre-register through a provided link to receive their unique PIN and dial-in number. The company will also make the conference call and replay available via webcast on their corporate website www.hessmidstream.com.

Hess Midstream (NYSE: HESM) has announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2024. The report was filed with the Securities and Exchange Commission on February 27, 2025.

The annual report, which includes complete audited financial statements, is accessible on the company's website at www.hessmidstream.com under the Investors section and SEC Filings subsection. Shareholders can request free printed copies of the report by emailing Investor Relations at HessMidstream@hess.com.

Hess Midstream LP (NYSE: HESM) has announced its participation in the upcoming Morgan Stanley Energy & Power Conference scheduled for March 6, 2025. The company will be represented by Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President of Investor Relations, who will engage with investors during the conference. A presentation related to the event has been made available to the public and can be accessed in the 'Investors' section of the company's official website at www.hessmidstream.com.