Hess Midstream P Stock Price, News & Analysis

Hess Midstream LP (NYSE: HESM) filed its annual report on Form 10-K for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission on February 27, 2023. The report includes audited financial statements and is accessible on Hess Midstream’s website. The company focuses on fee-based, growth-oriented midstream operations, owning assets primarily in the Bakken and Three Forks Shale plays in North Dakota. Shareholders can request printed copies of the report free of charge by contacting Investor Relations via email.

Hess Midstream LP (NYSE: HESM) announced its 2023 financial guidance, projecting net income between $600 million and $640 million and Adjusted EBITDA of $990 million to $1,030 million. The company anticipates a minimum volume commitment (MVC) growth that implies approximately 10% annualized growth in throughput volumes from 2023 to 2025. Capital expenditures for 2023 are expected to be $225 million, focusing on gas compression and gathering systems. The company also plans a 5% annual distribution growth through 2025, supported by robust financial flexibility exceeding $1 billion through 2025 for capital allocation and shareholder returns.

Hess Midstream reported a net income of $149.8 million for Q4 2022, down from $165.1 million year-over-year. After accounting for noncontrolling interests, net income attributable to Hess Midstream was $21.8 million, or $0.49 per Class A share, compared to $0.51 in the previous quarter. Key metrics include Adjusted EBITDA of $245.1 million and Distributable Cash Flow of $202.6 million. The company faced a 12% decrease in crude oil gathering throughput and 11% for terminaling, attributed partly to severe weather. A quarterly cash distribution of $0.5696 per Class A share was declared, reflecting a 1.2% increase over the prior quarter.

Hess Midstream LP (NYSE: HESM) has declared a quarterly cash distribution of $0.5696 per Class A share for the quarter ending December 31, 2022. This marks a 1.2% increase from the previous quarter's distribution, representing a 5% annualized increase. The payment date for this distribution is set for February 13, 2023, to shareholders recorded as of February 2, 2023. Hess Midstream is a growth-oriented midstream company primarily engaged in owning and operating assets that provide services in the Bakken and Three Forks Shale plays in North Dakota.

Hess Midstream LP (NYSE: HESM) will host a conference call on January 25, 2023, at 12:00 p.m. ET, to discuss its fourth quarter 2022 earnings. Interested participants can register via a link to obtain their 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 midstream services primarily in the Bakken and Three Forks Shale regions of North Dakota, and it aims to enhance its fee-based revenue model through asset ownership and operations.

Hess Midstream LP (NYSE: HESM) announced its participation in the Wells Fargo 21^st Annual Midstream & Utilities Symposium on December 7, 2022. During this event, representatives will engage with investors and discuss company strategies. A detailed presentation is available on the Hess Midstream website at www.hessmidstream.com. The company focuses on providing midstream services and owns assets primarily in North Dakota's Bakken and Three Forks Shale plays.

Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will participate in the Scotiabank Energy Infrastructure Conference on November 16, 2022. A presentation will be accessible in the 'Investors' section of Hess Midstream's website at www.hessmidstream.com. Hess Midstream operates as a growth-oriented, fee-based midstream company with assets in oil, gas, and produced water handling, primarily in the Williston Basin region.

Hess Midstream LP reported a strong third quarter of 2022, achieving a net income of $159.4 million and $0.53 earnings per Class A share, marking an increase from $131.1 million and $0.39 in Q3 2021. Adjusted EBITDA reached $253.6 million, while Distributable Cash Flow was $214.8 million. Throughput volumes rose significantly: 24% for gas processing and 20% for gas gathering, attributed to increased drilling activity. The company has raised its full-year guidance for net income to approximately $630 million and Adjusted EBITDA to $990 million, maintaining a target of 5% growth in annual distributions through 2024.