Hess Midstream P Stock Price, News & Analysis

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.

Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4471 per Class A share for Q4 2020. This reflects a 1.2% increase from the previous quarter and a 5% annualized growth. The distribution is set for payment on February 12, 2021, to shareholders on record by February 4, 2021. Hess Midstream operates fee-based midstream services in the Bakken and Three Forks Shale regions in North Dakota, focusing on oil, gas, and produced water handling assets.

Hess Midstream LP (NYSE: HESM) has outlined its 2021 financial guidance and capital budget. The company anticipates full-year net income between $590 million and $620 million, with Adjusted EBITDA expected between $860 million and $890 million. Distributable Cash Flow is projected to range from $750 million to $780 million, resulting in a coverage ratio of at least 1.4x. Hess Midstream expects to generate Adjusted Free Cash Flow between $610 million and $640 million and plans to grow distributions by at least 5%. Average gas gathering volumes are projected at 285 to 295 MMcf/d.

Hess Midstream LP (NYSE: HESM) will host a conference call on January 27, 2021, at 12:00 p.m. ET to discuss its fourth quarter 2020 earnings. U.S. participants can dial 866-395-9624, while international callers should use 213-660-0871, entering the passcode 7380097. The call will also be accessible via a webcast. A replay will be available until February 11, 2021. Hess Midstream primarily operates in the Bakken and Three Forks Shale plays in North Dakota, focusing on fee-based growth through diverse midstream assets.

Hess Midstream LP (NYSE: HESM) announced that its CFO, Jonathan Stein, and VP of Investor Relations, Jennifer Gordon, will meet with investors on January 12, 2021, at the UBS Infrastructure and Energy Conference. A presentation is now available in the Investors section of Hess Midstream's website, www.hessmidstream.com. Hess Midstream focuses on fee-based, growth-oriented midstream services, primarily operating assets in the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) announced a meeting with investors on December 8, 2020, at the Wells Fargo Virtual Midstream and Utility Symposium. Chief Financial Officer Jonathan Stein and Vice President of Investor Relations Jennifer Gordon will represent the company. A presentation is available on the Hess Midstream website, showcasing the company's operations and growth strategy. Hess Midstream focuses on fee-based services and owns assets mainly in the Bakken and Three Forks Shale plays located in North Dakota.

Hess Midstream LP (NYSE: HESM) reported third-quarter 2020 net income of $115.8 million, up from $87.4 million in Q3 2019. After accounting for noncontrolling interests, net income attributable to Hess Midstream was $5.6 million or $0.31 per Class A share. Adjusted EBITDA reached $181.6 million, driven by higher Hess production and throughput volumes. The company declared a cash distribution of $0.4417 per Class A share, marking a 1.2% increase compared to the previous quarter. Hess Midstream raised its full-year guidance, expecting net income between $465M and $475M.

Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.4417 per Class A share for Q3 2020, reflecting a 1.2% increase from the previous quarter and a 5% annualized increase. The distribution will be paid on November 13, 2020, to shareholders on record as of November 5, 2020. Hess Midstream focuses on growth through its fee-based midstream operations, primarily within the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) announced a conference call scheduled for October 28, 2020, at 12:00 p.m. ET to discuss its third quarter 2020 earnings release. Investors can join by dialing 866-395-9624 or accessing a webcast on the company's website. A replay will be available until November 12, 2020. Hess Midstream operates fee-based midstream assets, primarily in the Bakken and Three Forks Shale plays in North Dakota, providing services to Hess and third-party customers.