Welcome to our dedicated page for Hess Midstream LP news (Ticker: HESM), a resource for investors and traders seeking the latest updates and insights on Hess Midstream LP stock.
Hess Midstream LP Class A Share (symbol: HESM) represents a limited partner interest in a company that focuses on processing natural gas and fractionating natural gas liquids (NGLs) in the United States. Founded in 2014 and headquartered in Houston, Texas, Hess Midstream Partners LP operates under its general partner, Hess Midstream Partners GP LLC.
The company operates through three primary segments:
- Gathering: This segment includes natural gas gathering and compression, crude oil gathering, and produced water gathering and disposal. It forms the backbone of the company's operations, contributing the majority of its revenue.
- Processing and Storage: Hess Midstream processes natural gas and stores NGLs, ensuring efficient and safe handling of these valuable resources.
- Terminaling and Exporting: This segment focuses on terminaling and loading crude oil and NGLs, transporting crude oil through rail cars, and storing and terminaling propane.
Hess Midstream LP’s core business is to own, operate, develop, and acquire a diverse set of midstream assets, providing fee-based services to Hess Corporation and third-party customers. The company has made significant strides in its recent projects, including the development of new infrastructure to enhance its capacity and efficiency. Financially, Hess Midstream has shown a solid performance with consistent revenue generation from its gathering segment.
Partnerships play a crucial role in Hess Midstream's operations. The company's strategic alliances enable it to expand its service offerings and optimize operational efficiencies. By leveraging these partnerships, Hess Midstream continues to provide high-quality, reliable services to its clients.
Hess Midstream LP reported a robust fourth quarter of 2021 with a net income of $165.1 million, up from $132.3 million year-over-year. Adjusted EBITDA reached $246.6 million, and Distributable Cash Flow was $215.0 million, yielding a distribution coverage ratio of approximately 1.6x. For 2022, the company projects a net income between $630-$660 million and plans $235 million in capital expenditures focused on gas compression capacity. The board declared a quarterly cash distribution of $0.5167 per Class A share, a 1.2% increase from the prior quarter.
Hess Midstream LP (NYSE: HESM) has provided guidance for 2022, projecting net income between $630 million and $660 million, with Adjusted EBITDA expected between $970 million and $1,000 million. The company anticipates Distributable Cash Flow will be in the range of $840 million to $870 million, resulting in a distribution coverage ratio over 1.5x. 2022 capital expenditures are planned at approximately $235 million, focused on expanding gas compression capacity. The company expects to maintain a 5% annual distribution growth through 2024.
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of
Hess Midstream LP (NYSE: HESM) announced a conference call on
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will engage with investors at two upcoming events: the Goldman Sachs Global Energy and Clean Technology Conference on January 6, 2022, and the UBS Winter Infrastructure and Energy Conference on January 11-12, 2022. A presentation is available on the Hess Midstream website, highlighting its role as a fee-based midstream company operating primarily in North Dakota's Bakken and Three Forks Shale plays.
Hess Midstream LP (NYSE: HESM) will participate in the Wells Fargo Midstream, Utility & Renewables Symposium on December 8, 2021. Key executives, including CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon, will be present to engage with investors. A presentation related to this event is available on Hess Midstream’s website. The company focuses on fee-based growth through ownership and operation of midstream assets primarily in the Bakken and Three Forks Shale plays in North Dakota, providing services to Hess and third-party clients.
Hess Midstream LP reported third quarter 2021 net income of $131.1 million, a rise from $115.8 million in Q3 2020. Adjusted EBITDA reached $205.0 million, while distributable cash flow (DCF) was $171.5 million. The company successfully completed a maintenance turnaround at the Tioga Gas Plant, leading to an increase in full-year 2021 net income guidance to $605-$615 million. It declared a quarterly cash distribution of $0.5104 per Class A share, reflecting a 1.2% increase over the previous quarter.
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.5104 per Class A share for the quarter ending September 30, 2021. This marks a 1.2% increase from the previous quarter, translating to a 5% annualized increase. The distribution payment is scheduled for November 12, 2021, to shareholders on record as of November 4, 2021.
Hess Midstream focuses on operating, developing, and acquiring midstream assets in the Bakken and Three Forks Shale plays in the Williston Basin, North Dakota.
Hess Midstream LP (NYSE: HESM) will hold a conference call on October 27, 2021, at 12:00 p.m. Eastern Time to discuss its third quarter 2021 earnings. To participate, U.S. callers can dial 866-395-9624 and enter passcode 5876316. International participants can call 213-660-0871. The call will be accessible via webcast on Hess Midstream’s website.
A replay will be available from October 27 through November 11, 2021, using the same passcode.
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