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 (NYSE: HESM) has initiated an underwritten public offering of 7,900,000 Class A shares, representing limited partner interests, by subsidiaries of Hess Corporation and Global Infrastructure Partners. The underwriters also have an option to purchase an additional 1,185,000 shares within 30 days. Importantly, HESM will not receive any proceeds from this offering. Citigroup and Goldman Sachs are the joint bookrunning managers for the offering, which is conducted under an effective shelf registration statement. More details are available in the SEC filing.
Hess Midstream LP (NYSE: HESM) has filed its annual report on Form 10-K for the fiscal year ending December 31, 2021, with the SEC on March 1, 2022. The report is available on Hess Midstream’s website, which includes fully audited financial statements. Hess Midstream operates a diverse range of midstream assets primarily in the Bakken and Three Forks Shale plays located in the Williston Basin of North Dakota, offering services to Hess Corporation and other third-party customers.
Hess Midstream LP (NYSE: HESM) reaffirmed its Q1 and full-year 2022 guidance, projecting nearly 95% minimum volume commitment revenue. Throughput volume expectations and adjusted EBITDA for Q1 are set between $235-$245 million, with full-year adjusted EBITDA at $970-$1,000 million. Net income is anticipated to be $150-$160 million for Q1 and $630-$660 million for FY 2022. The company targets 5% annual distribution growth through 2024, supported by a distribution coverage ratio exceeding 1.4x, enhancing capital flexibility.
Hess Midstream LP (NYSE: HESM) announced participation in the Credit Suisse Annual Energy Summit on February 28, 2022, and the Morgan Stanley Energy & Power Conference on March 2, 2022. The company has made a presentation available on its website to provide insights to investors. Hess Midstream focuses on midstream assets associated with oil, gas, and produced water handling, primarily in North Dakota's Bakken and Three Forks Shale plays. For more information, visit www.hessmidstream.com.
Hess Midstream LP (NYSE: HESM) announced that President John Gatling and CFO Jonathan Stein will join a fireside chat co-hosted by Morgan Stanley and Alerian on February 24, 2022, at 2:00 PM ET. Investors can access a presentation in the 'Investors' section of the Hess Midstream website. Hess Midstream specializes in fee-based, growth-oriented midstream services, primarily focusing on oil, gas, and water handling assets in the Bakken and Three Forks shale plays in North Dakota.
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
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