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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.

Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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Hess Midstream LP (NYSE: HESM) announced its participation in the Wells Fargo 21st 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.

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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.

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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.

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Hess Midstream LP (NYSE: HESM) has declared a quarterly cash distribution of $0.5627 per Class A share for the quarter ending September 30, 2022. This marks a 1.2% increase from the previous quarter, translating to a 5% annualized growth. The distribution will be payable on November 14, 2022, to shareholders on record as of November 3, 2022. Hess Midstream is a growth-oriented midstream company with assets primarily in the Bakken and Three Forks Shale plays in North Dakota.

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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 $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
Link
United States of America
HOUSTON