Hess Midstream P Stock Price, News & Analysis

Hess Midstream (NYSE: HESM) reported a first quarter 2021 net income of $159.6 million, up from $129.0 million in Q1 2020. After noncontrolling interests, net income attributable to Hess Midstream was $8.6 million, or $0.45 per Class A share. The company generated Adjusted EBITDA of $226.7 million with Distributable Cash Flow of $204.6 million. Revenues decreased slightly to $288.8 million compared to the prior year. Operationally, throughput volumes for crude oil terminaling and gathering fell by 23% and 22%, respectively, due to reduced drilling activity and severe weather effects.

Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4526 per Class A share for Q1 2021. This reflects a 1.2% increase from the previous quarter, translating to a 5% annual growth. The distribution will be payable on May 13, 2021 to shareholders on record as of May 3, 2021. Hess Midstream focuses on providing fee-based services through its diverse midstream assets in the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) will conduct a conference call on April 28, 2021, at 12:00 p.m. ET to discuss its first quarter 2021 earnings. Participants can dial in or access a webcast available on Hess Midstream's website. A replay of the call will be available until May 13, 2021. Hess Midstream specializes in fee-based midstream services, focusing on oil, gas, and produced water handling assets, primarily in North Dakota's Bakken and Three Forks Shale plays. Further details can be found on their official website.

Hess Midstream (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors on March 24, 2021, at the Scotia Howard Weil Energy Conference. The company has released a presentation available in the 'Investors' section of its website. Hess Midstream focuses on providing fee-based midstream services, owning and operating assets primarily in the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) announced the pricing of a public offering of 6,000,000 Class A shares at $21.00 each, aiming for gross proceeds of approximately $126 million. The offering, set to close on March 15, 2021, is conducted by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners. HESM will not receive proceeds from this sale. Additionally, underwriters have a 30-day option to purchase 900,000 more shares. The company specializes in midstream services, focusing on oil and gas assets in North Dakota's Bakken and Three Forks Shale plays.

Hess Midstream LP (NYSE: HESM) announced an underwritten public offering of 6,000,000 Class A shares by Hess Corporation and an affiliate of Global Infrastructure Partners. The underwriters have a 30-day option to purchase an additional 900,000 shares. HESM will not receive any proceeds from this offering. Goldman Sachs & Co. LLC and Citigroup are the joint bookrunning managers. The offering is made under a previously filed effective shelf registration statement with the SEC. This release does not constitute an offer or solicitation for the securities.

Hess Midstream LP (NYSE: HESM) filed its annual report on Form 10-K with the SEC for the fiscal year ending December 31, 2020, on February 22, 2021. The report is accessible on Hess Midstream’s website under the “Investors” section. Shareholders can request printed copies of the report, which includes complete audited financial statements, via email.

As a fee-based, growth-oriented midstream company, Hess Midstream operates diverse assets providing services primarily in North Dakota's Bakken and Three Forks Shale plays.

Hess Midstream LP (NYSE: HESM) has announced that its Chief Financial Officer Jonathan Stein and Vice President of Investor Relations Jennifer Gordon will engage with investors on February 24, 2021, at the Barclays Midstream and Clean Infrastructure Corporate Access Day. A detailed presentation is scheduled to be available on the Hess Midstream website. The company specializes in fee-based midstream services primarily in the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) reported a strong fourth quarter 2020 with net income of $132.3 million, up from $75.1 million in Q4 2019. Net income attributable to Hess Midstream was $6.6 million ($0.36 per Class A share). The company generated Adjusted EBITDA of $199.1 million and Distributable Cash Flow of $176.8 million, with an impressive distribution coverage ratio of approximately 1.4x. Revenues increased to $266.5 million, while total expenses decreased to $111.8 million, largely due to lower administrative costs. An increase in capital flexibility and business expansion is expected in 2021.