Hess Midstream P Stock Price, News & Analysis

Hess Midstream (NYSE: HESM) reported strong Q2 2025 results with net income of $179.7 million, up from $160.3 million in Q2 2024. The company achieved net income of $0.74 per Class A share, Adjusted EBITDA of $316.0 million, and Adjusted Free Cash Flow of $193.8 million.

Key operational highlights include volume increases of 7% for gas processing, 9% for oil terminaling, and 11% for water gathering compared to Q2 2024. The company completed a $190 million repurchase of Class B units and a $10 million repurchase of Class A shares. The quarterly cash distribution was increased to $0.7370 per Class A share.

Following Chevron's acquisition of Hess Corporation, Chevron now indirectly owns 37.8% interest in Hess Midstream. The company maintains its 2025 Adjusted EBITDA guidance of $1,235-$1,285 million and targets at least 5% annual distribution growth through 2027.

Hess Midstream (NYSE: HESM) announced a quarterly cash distribution increase to $0.7370 per Class A share for Q2 2025, representing a $0.0272 increase from Q1 2025. The increase follows the company's $190 million unit repurchase and $10 million Class A shares repurchase in May 2025.

The company expects over $1.25 billion in financial flexibility through 2027 to support its return of capital framework. The distribution exceeds HESM's targeted 5% annual distribution growth through 2027 and will be paid on August 14, 2025, to shareholders of record as of August 7, 2025.

Hess Midstream (NYSE: HESM) announced significant changes to its Board of Directors and executive leadership following the completion of the Chevron-Hess merger. Through this merger, Chevron now owns Hess' 37.8% interest in Hess Midstream.

Key leadership changes include Andy Walz from Chevron joining as Board Chairman, alongside Kristen Ghattas and Kristi McCarthy as new board members. Jonathan C. Stein, previously CFO, has been promoted to CEO, while Michael J. Chadwick has been appointed as the new CFO. The company's three independent directors will remain on the Board, with plans to add a fourth independent member.

Hess Midstream (NYSE: HESM) has scheduled its Q2 2025 earnings conference call for July 30, 2025, at 12:00 p.m. Eastern Time. Participants who wish to join the call must pre-register through a provided link to receive their unique PIN and dial-in details. The company will also make the earnings discussion available via webcast on their corporate website at www.hessmidstream.com.

Hess Midstream (NYSE: HESM) has published its 2024 Sustainability Report, demonstrating its commitment to environmental, social, and governance (ESG) transparency. The report, available on the company's website, follows leading sustainability reporting frameworks including the Energy Infrastructure Council, GPA Midstream Association ESG Template, SASB standards for oil and gas midstream, TCFD, and GRI Standards.

Hess Midstream (HESM) announced significant governance changes following Global Infrastructure Partners' (GIP) complete exit from the company through a public offering on May 30, 2025. The ownership structure has shifted to approximately 62.2% public ownership and 37.8% Hess Corporation ownership. Following GIP's exit, three GIP-designated Board members resigned, reducing the Board to eight directors maximum. The new structure requires at least one Hess and one independent director's approval for key decisions. The company maintains its financial outlook with over $1.25 billion in financial flexibility through 2027, which may be used for share repurchases. The governance update includes creating a fourth independent Board seat and maintaining existing commercial agreements with Hess Corporation.

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.