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 Partners LP (HESM) provides essential midstream infrastructure services including natural gas processing, crude oil terminaling, and NGL fractionation. This page aggregates official press releases and verified news to help stakeholders track operational developments, financial performance, and strategic initiatives.
Access timely updates on earnings reports, infrastructure expansions, and regulatory filings. Content categories include quarterly financial results, asset acquisitions, partnership announcements, and operational efficiency milestones. All materials are sourced directly from company filings and reputable financial publications.
This resource enables investors to monitor HESM's fee-based revenue model and its role in energy logistics. Bookmark this page for structured access to critical updates affecting midstream sector analysis and long-term performance evaluation.
Hess Midstream reported a solid first quarter for 2023 with a net income of $142.2 million, down from $159.6 million in Q1 2022. Net income attributable to Hess Midstream was $20.7 million, equating to $0.47 per Class A share, a slight decrease from $0.50 in the previous year. The company achieved an Adjusted EBITDA of $239.0 million and Distributable Cash Flow of $196.6 million. Cash distributions increased about 2.7% to $0.5851 per Class A share, aligning with the target for 5% annual growth. Capital expenditures amounted to $57.3 million, primarily for expanding gas compression capacity. Hess Midstream continues to target annual distribution growth and has reaffirmed its full-year guidance for 2023.
Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.5851 per Class A share for the quarter ended March 31, 2023, marking a 2.7% increase from the previous quarter. This increase includes a 1.5% rise in distribution level and a consistent quarterly increase of 1.2%, supporting the company's goal of at least 5% annual growth through 2025. CFO Jonathan Stein cited financial flexibility and excess adjusted free cash flow as key factors in increasing returns to shareholders. The distribution will be payable on May 12, 2023, to shareholders of record by May 4, 2023. Hess Midstream operates primarily in the Bakken and Three Forks Shale areas, handling oil, gas, and produced water services.
Hess Midstream LP (NYSE: HESM) announced a conference call scheduled for April 26, 2023, at 12:00 p.m. Eastern Time to discuss its first quarter 2023 earnings. Participants can register in advance via a provided link to obtain a unique PIN and dial-in number. The call will also be accessible through a webcast on Hess Midstream's website. The company focuses on providing fee-based midstream services primarily in the Bakken and Three Forks Shale regions. Hess Midstream operates, develops, and acquires various midstream assets, emphasizing growth-oriented strategies to support Hess and other clients.
For further details, visit www.hessmidstream.com.
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