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An update from Hess Midstream Partners ( (HESM) ) is now available.
On January 13, 2025, Hess Midstream LP announced a $100 million repurchase of Class B units from its sponsors, Hess Corporation and Global Infrastructure Partners, with the transaction being funded through existing credit facilities and completed on January 15, 2025. This move, considered accretive and unanimously approved by the company’s board, exemplifies Hess Midstream’s financial strategy of delivering shareholder returns while maintaining balance sheet strength, and is expected to increase distributable cash flow per Class A share, allowing for potential distribution growth above the annual target through 2026.
More about Hess Midstream Partners
Hess Midstream LP is a fee-based, growth-oriented midstream company that owns, operates, develops, and acquires a diverse set of midstream assets. The company provides services to Hess Corporation and third-party customers, focusing on oil, gas, and produced water handling assets primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
YTD Price Performance: 6.60%
Average Trading Volume: 796,145
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $8.74B
Learn more about HESM stock on TipRanks’ Stock Analysis page.
