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.
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.61%
Tags
-
Rhea-AI Summary
Hess Midstream LP (HESM) CFO and VP to attend investor conferences in March 2024, presentation to be available online.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.56%
Tags
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.95%
Tags
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.95%
Tags
-
News
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.97%
Tags
-
Rhea-AI Summary
Hess Midstream LP (HESM) reported a 24% increase in gas processing, 19% in oil terminaling, and 47% in water gathering throughput volumes. Net income was $152.8 million, with a 2.7% increase in quarterly cash distribution. Adjusted EBITDA was $264.1 million, and Adjusted Free Cash Flow was $146.6 million. The company completed a $100 million repurchase of Class B units and increased its distribution level per Class A share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.97%
Tags
Rhea-AI Summary
Hess Midstream LP (NYSE: HESM) announced a 2.7% increase in the quarterly cash distribution per Class A share for the fourth quarter of 2023 compared to the third quarter. The company aims for at least 5% annual growth in distributions per Class A share through 2025. The Board of Directors prioritizes consistent return of capital to shareholders, utilizing excess adjusted free cash flow for further distribution level increases. The quarterly distribution of $0.6343 per Class A share will be payable on February 14, 2024, to shareholders of record as of February 8, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.26%
Tags
-
Rhea-AI Summary
Hess Midstream LP (HESM) to Hold Conference Call to Discuss Q4 2023 Earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.12%
Tags
-
Rhea-AI Summary
Hess Midstream LP (NYSE: HESM) to Present at UBS Global Energy & Utilities Winter Conference
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.38%
Tags
Rhea-AI Summary
Hess Midstream LP (NYSE: HESM) Releases 2022 Sustainability Report
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.48%
Tags
FAQ
What is the current stock price of Hess Midstream LP (HESM)?
The current stock price of Hess Midstream LP (HESM) is $41.91 as of January 30, 2025.
What is the market cap of Hess Midstream LP (HESM)?
The market cap of Hess Midstream LP (HESM) is approximately 4.3B.
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.
Hess Midstream LP
NYSE:HESM
HESM Rankings
HESM Stock Data
4.27B
102.90M
1.12%
93.68%
6.42%
Oil & Gas Midstream
Crude Petroleum & Natural Gas
United States of America
HOUSTON