Welcome to our dedicated page for Hess Midstream P news (Ticker: HESM), a resource for investors and traders seeking the latest updates and insights on Hess Midstream P stock.
Hess Midstream LP (NYSE: HESM) is a fee‑based midstream partnership focused on oil, gas and produced water handling assets in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. The HESM news page on Stock Titan aggregates company‑specific press releases and market updates so readers can follow how this midstream business evolves over time.
News coverage for Hess Midstream commonly includes quarterly earnings releases with details on net income, Adjusted EBITDA, Adjusted Free Cash Flow and throughput volumes across gas gathering, gas processing, crude oil gathering, crude oil terminaling and water gathering systems. These updates often explain how changes in physical volumes, tariff rates and operating costs affect financial results and non‑GAAP performance measures defined by the company.
Investors can also track announcements about financial and operational guidance, including expected throughput volumes, capital expenditure plans and long‑term targets for net income, Adjusted EBITDA and Adjusted Free Cash Flow. Hess Midstream regularly discusses its return of capital framework, such as targeted annual distribution growth per Class A share and the use of repurchase transactions involving Class A shares and Class B units.
In addition, the news flow includes items on governance and ownership, such as the exit of Global Infrastructure Partners from its position, changes to the board of directors, leadership transitions and the impact of the merger between Hess Corporation and Chevron Corporation on Hess Midstream’s ownership structure. By reviewing these articles in one place, readers can follow how Hess Midstream’s operational performance, capital allocation decisions and governance developments relate to HESM stock over time.
Hess Midstream LP (NYSE: HESM) has announced the pricing of an upsized secondary public offering of Class A shares. The offering, initially set at 10,000,000 shares, has been increased to 11,000,000 Class A shares. These shares are being sold by an affiliate of Global Infrastructure Partners, the Selling Shareholder. The underwriter, Citigroup, has been granted a 30-day option to purchase up to 1,650,000 additional Class A shares.
HESM will not receive any proceeds from this sale. The offering is expected to close on September 20, 2024, subject to customary conditions. The shares will be offered through various channels, including the New York Stock Exchange and over-the-counter market, at market or negotiated prices.
Hess Midstream LP (NYSE: HESM) has announced a secondary public offering of 10,000,000 Class A shares by an affiliate of Global Infrastructure Partners. The underwriter, Citigroup, may purchase up to 1,500,000 additional shares within 30 days. HESM will not receive proceeds from this sale. The shares will be offered on the New York Stock Exchange and over-the-counter markets at market or negotiated prices. This offering is made through a prospectus supplement and base prospectus filed with the SEC. The sale is pursuant to an effective shelf registration statement previously filed with the SEC.
Hess Midstream LP (NYSE: HESM) has announced a $100 million repurchase of Class B units from its sponsors, Hess and Global Infrastructure Partners. This transaction, unanimously approved by the Board of Directors, is part of Hess Midstream's financial strategy to deliver shareholder returns while maintaining balance sheet strength. Key points:
- 2,823,262 Class B units (1.3% of the consolidated company) will be repurchased at $35.42 per unit
- The repurchase is expected to close on September 11, 2024
- It will be funded through existing revolving credit facility
- Post-transaction ownership: Public 41.5%, Global Infrastructure Partners 20.7%, Hess 37.8%
- This brings total shareholder returns through unit repurchases to $1.85 billion since 2021
- The company expects to maintain over $1.25 billion in financial flexibility through 2026
Hess Midstream LP (NYSE: HESM) announced that its Chief Financial Officer, Jonathan Stein, and Vice President of Investor Relations, Jennifer Gordon, will meet with investors at the Barclays Annual CEO Energy-Power Conference on September 3, 2024. The company has made a presentation available on its website in the 'Investors' section at www.hessmidstream.com. This event provides an opportunity for Hess Midstream to engage with investors and share insights about the company's performance and strategies.
Hess Midstream LP (NYSE: HESM) reported strong Q2 2024 results, with net income of $160.3 million and Adjusted EBITDA of $276.5 million. Throughput volumes increased significantly across all segments compared to Q2 2023. The company increased its 2024 guidance for gas gathering and processing volumes, updated net income guidance to $650-$700 million, and reiterated Adjusted EBITDA guidance of $1,125-$1,175 million. Hess Midstream completed a $100 million repurchase of Class B units and increased its quarterly cash distribution to $0.6677 per Class A share. The company continues to target at least 5% annual distribution growth through 2026 and expects organic throughput volume growth across all systems for 2025 and 2026 relative to 2024 guidance.
Hess Midstream LP (NYSE: HESM) has announced a quarterly cash distribution of $0.6677 per Class A share for Q2 2024, representing a $0.0161 increase from Q1 2024. This increase follows a $100 million unit repurchase in June 2024 and exceeds the company's targeted 5% growth in annual distributions per Class A share through 2026. Since Q1 2021, HESM has increased its distribution per Class A share by approximately 48%, with a 10% increase in 2024 year-to-date on an annualized basis. The company expects to have over $1.25 billion in financial flexibility through 2026 to support its return of capital framework, including potential additional unit repurchases.
Hess Midstream LP (NYSE: HESM) has announced its participation in two upcoming investor conferences. Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President of Investor Relations, will represent the company at these events:
- The Raymond James Industrial & Energy Showcase on August 8, 2024
- The Citi Midstream and Infrastructure Conference on August 13-14, 2024
To support these presentations, Hess Midstream will post a presentation in the 'Investors' section of their website at www.hessmidstream.com. This move demonstrates the company's commitment to investor relations and transparency in communicating with stakeholders.
Hess Midstream (NYSE: HESM) has announced a conference call scheduled for Wednesday, July 31, 2024, at 12:00 p.m. Eastern Time to discuss its Q2 2024 earnings release. Participants can register in advance to receive a unique PIN and dial-in number. The call will also be available via webcast on Hess Midstream's website.
Hess Midstream LP (NYSE: HESM) announced a $100 million repurchase of Class B units from its Sponsors, Hess and Global Infrastructure Partners. The Board of Directors approved the transaction, which will cancel the repurchased units, potentially increasing distributable cash flow and supporting further distribution growth. The unit price is set at $36.71, matching the closing price on June 24, 2024. Post-repurchase, public ownership will be 41.0%, with Global Infrastructure Partners and Hess holding 21.2% and 37.8%, respectively. Completion is expected by June 26, 2024.
Hess Midstream (NYSE: HESM) announced its participation in the J.P. Morgan Energy, Power & Renewables Conference on June 18, 2024. Chief Financial Officer Jonathan Stein and Vice President of Investor Relations Jennifer Gordon will represent the company. Investors can access the presentation in the 'Investors' section of the Hess Midstream website.