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 Operations LP, a subsidiary of Hess Midstream LP (NYSE: HESM), plans to offer $750 million in senior unsecured notes due 2030. The net proceeds will finance the repurchase of approximately 31 million Class B units from Hess Corporation and Global Infrastructure Partners. These Notes will be sold to qualified institutional buyers under Rule 144A and to non-U.S. Persons per Regulation S. The offering will not be registered under the Securities Act, and is not an offer to sell or a solicitation in any jurisdiction where such an offer would be unlawful.
Hess Midstream reported a strong second quarter 2021, with net income rising to $162 million from $107.8 million a year prior. Net income attributable to Hess Midstream was $11 million, or $0.44 per Class A share. Adjusted EBITDA reached $230.2 million and Distributable Cash Flow was $207.5 million. The company expects to see continued growth, driven by increased gas capture and a planned rig addition in September. A quarterly distribution of $0.5042 per share was declared, marking an 11% increase from the previous quarter.
Hess Midstream (HESM) announced an 11% increase in its quarterly distribution per Class A share, effective Q2 2021, reflecting a 10% immediate increase along with a targeted 5% annual growth. The Board also approved a $750 million unit repurchase program aimed at enhancing shareholder value and optimizing capital structure. This repurchase targets 31 million Class B units, expected to be accretive to distributable cash flow. The quarterly distribution of $0.5042 per Class A share will be payable on August 13, 2021, reinforcing financial flexibility and ongoing cash flow.
Hess Midstream LP (NYSE:HESM) announced a conference call on July 28, 2021, at 12:00 p.m. ET to discuss its second-quarter 2021 earnings. U.S. callers can dial 866-395-9624, while international participants should dial 213-660-0871, using passcode 7419849. The call will also be available via a webcast. A replay will be accessible from July 28 until August 12, 2021. Hess Midstream operates diverse midstream assets, primarily in North Dakota's Bakken and Three Forks Shale, providing essential services to Hess and other customers.
Hess Midstream LP (NYSE:HESM) announced that executives, including John Gatling, will meet with investors on June 22-23, 2021, at the J.P. Morgan Energy, Power and Renewables Conference. A fireside chat is scheduled for June 22 at 2:40 p.m. Eastern Time. Investors can access a presentation on the company’s website. Hess Midstream operates fee-based midstream services, focusing on oil, gas, and produced water handling primarily in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the EIC Investor Conference on May 19-20, 2021. An investor presentation is available in the Investors section of Hess Midstream's website.
Hess Midstream operates a range of fee-based midstream assets, primarily serving the Bakken and Three Forks Shale plays in North Dakota, focusing on oil, gas, and produced water handling.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the Citi Global Energy and Utilities Conference on May 12, 2021. A presentation will be accessible in the Investors section of Hess Midstream's website. The company is a fee-based, growth-oriented midstream entity, providing services primarily within the Bakken and Three Forks Shale plays in North Dakota. For further details, visit www.hessmidstream.com.
Hess Midstream (NYSE: HESM) reported a first quarter 2021 net income of $159.6 million, up from $129.0 million in Q1 2020. After noncontrolling interests, net income attributable to Hess Midstream was $8.6 million, or $0.45 per Class A share. The company generated Adjusted EBITDA of $226.7 million with Distributable Cash Flow of $204.6 million. Revenues decreased slightly to $288.8 million compared to the prior year. Operationally, throughput volumes for crude oil terminaling and gathering fell by 23% and 22%, respectively, due to reduced drilling activity and severe weather effects.
Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4526 per Class A share for Q1 2021. This reflects a 1.2% increase from the previous quarter, translating to a 5% annual growth. The distribution will be payable on May 13, 2021 to shareholders on record as of May 3, 2021. Hess Midstream focuses on providing fee-based services through its diverse midstream assets in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) will conduct a conference call on April 28, 2021, at 12:00 p.m. ET to discuss its first quarter 2021 earnings. Participants can dial in or access a webcast available on Hess Midstream's website. A replay of the call will be available until May 13, 2021. Hess Midstream specializes in fee-based midstream services, focusing on oil, gas, and produced water handling assets, primarily in North Dakota's Bakken and Three Forks Shale plays. Further details can be found on their official website.
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