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Hess Midstream LP - HESM STOCK NEWS

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.

News

Hess Midstream LP to Participate in Investor Conferences

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Hess Midstream LP (NYSE: HESM) will attend investor conferences with key executives in May 2024 and has shared a presentation on their website.

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Hess Midstream LP Reports Estimated Results for the First Quarter of 2024

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Hess Midstream LP reported strong first-quarter 2024 results with increased throughput volumes for gas processing, oil terminaling, and water gathering. Net income was $161.9 million, with Adjusted EBITDA of $275.8 million. Quarterly cash distribution increased by 2.7% to $0.6516 per Class A share. The company reaffirmed its 2024 guidance and aims for at least 5% annual distribution growth through 2026.
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Hess Midstream LP Announces Distribution Per Share Level Increase

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Hess Midstream LP (NYSE: HESM) has announced an increase in its quarterly cash distribution to $0.6516 per Class A share for the quarter ending March 31, 2024, reflecting a 2.7% rise from the previous quarter. The company aims for a 5% annual growth in distributions per Class A share through 2026, with a total increase of approximately 45% since the first quarter of 2021.
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Hess Midstream LP Schedules Earnings Release Conference Call

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Hess Midstream LP (HESM) schedules a conference call to discuss first quarter 2024 earnings release.
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Hess Midstream LP Announces Signing of Accretive $100 Million Sponsor Unit Repurchase

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Hess Midstream LP (HESM) announced a $100 million unit repurchase agreement to reduce total unit count by over 20%, prioritizing shareholder returns and a strong balance sheet. The transaction is expected to provide immediate accretion to shareholders and increase distributable cash flow per Class A share, supporting potential incremental distribution growth above 5% through 2026.
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Hess Midstream LP Announces Filing of 2023 Annual Report on Form 10-K

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Hess Midstream LP (HESM) filed its annual report on Form 10-K for the fiscal year ended December 31, 2023, with the SEC. Shareholders can access the report on the company's website and request printed copies for free.
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Hess Midstream LP to Participate in Investor Conferences

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Hess Midstream LP (HESM) CFO and VP to attend investor conferences in March 2024, presentation to be available online.
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Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A Shares

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Hess Midstream LP (HESM) announced the pricing of an underwritten public offering of 10,000,000 Class A shares, resulting in gross proceeds of $331 million. The Selling Shareholder granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares. HESM will not receive any proceeds from the sale. The offering is expected to close on February 8, 2024. The Class A shares are being offered and will be sold pursuant to an effective shelf registration statement previously filed with the SEC.
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Hess Midstream LP Announces Secondary Public Offering of Class A Shares

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Hess Midstream LP (NYSE: HESM) has announced an underwritten public offering of 10,000,000 Class A shares by an affiliate of Global Infrastructure Partners. The Selling Shareholder plans to grant the underwriters a 30-day option to purchase up to 1,500,000 additional shares. HESM will not receive any proceeds from the sale. Citigroup is the bookrunning manager of the offering. The offering is being made through a prospectus supplement and accompanying base prospectus filed with the SEC.
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Hess Midstream LP Announces Guidance, Increases and Extends Return of Capital Program Through 2026

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Hess Midstream LP (HESM) expects a 10% increase in throughput volumes in 2024, with net income of $670 - $720 million and Adjusted EBITDA of $1,125 - $1,175 million, representing a 12.5% increase compared with 2023. Long-term guidance includes annualized growth in gas and oil throughput volumes, with at least 10% growth in net income and Adjusted EBITDA in 2025 and 2026. The company also plans to prioritize financial strength and extend its long-term leverage target through 2026, with a Return of Capital framework targeting annual distribution per Class A share growth of at least 5% through 2026.
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FAQ

What is the current stock price of Hess Midstream LP (HESM)?

The current stock price of Hess Midstream LP (HESM) is $36.2 as of December 20, 2024.

What is the market cap of Hess Midstream LP (HESM)?

The market cap of Hess Midstream LP (HESM) is approximately 3.7B.

What is Hess Midstream LP?

Hess Midstream LP is a company that processes natural gas and fractionates natural gas liquids (NGLs) in the United States, providing fee-based services to Hess Corporation and third-party customers.

What are the primary segments of Hess Midstream LP's operations?

The primary segments are Gathering, Processing and Storage, and Terminaling and Exporting.

Where is Hess Midstream LP headquartered?

Hess Midstream LP is headquartered in Houston, Texas.

When was Hess Midstream LP founded?

Hess Midstream LP was founded in 2014.

What services does Hess Midstream LP provide?

Hess Midstream LP provides services such as natural gas processing, NGL fractionation, crude oil transportation, and storage and terminaling of propane.

Who are the main customers of Hess Midstream LP?

Hess Midstream LP provides services to Hess Corporation and third-party customers.

What is the main revenue-generating segment for Hess Midstream LP?

The main revenue-generating segment for Hess Midstream LP is the Gathering segment.

How does Hess Midstream LP transport crude oil?

Hess Midstream LP transports crude oil through rail cars.

What role do partnerships play in Hess Midstream LP's operations?

Partnerships help Hess Midstream LP expand its service offerings and optimize operational efficiencies.

What recent achievements has Hess Midstream LP made?

Hess Midstream LP has developed new infrastructure to enhance its capacity and efficiency in processing natural gas and fractionating NGLs.

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Hess Midstream LP

NYSE:HESM

HESM Rankings

#1487 Ranked by Market Cap
#349 Ranked by Dividends

HESM Stock Data

3.75B
102.90M
1.12%
92.71%
4.23%
Oil & Gas Midstream
Crude Petroleum & Natural Gas
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United States of America
HOUSTON