Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,350 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 450 million cubic feet per day; and crude oil gathering system comprises approximately 550 miles of crude oil gathering pipelines. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; a 50% interest in the Little Missouri 4 gas processing plant located in south of the Missouri River in McKenzie County, North Dakota; and Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars, as well as Johnson's Corner Header System, a crude oil pipeline header system. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.
IPO Year: 2017
Exchange: NYSE
Website: hessmidstream.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/30/2025 | $36.00 | Neutral | Goldman |
| 9/19/2025 | $39.00 | Overweight → Equal Weight | Wells Fargo |
| 9/10/2025 | $43.00 | Buy → Neutral | UBS |
| 7/25/2025 | $47.00 | Equal Weight → Overweight | Wells Fargo |
| 7/25/2025 | $48.00 | Equal-Weight | Morgan Stanley |
| 3/8/2024 | $37.00 | Overweight → Neutral | JP Morgan |
| 10/6/2023 | $32.00 | Buy | Goldman |
| 5/10/2023 | $37.00 | Buy | UBS |
| 4/21/2023 | $35.00 | Outperform | Raymond James |
| 12/9/2022 | $34.00 | Buy | Citigroup |
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3 - Hess Midstream LP (0001789832) (Issuer)
4 - Hess Midstream LP (0001789832) (Issuer)
4 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
3 - Hess Midstream LP (0001789832) (Issuer)
4 - Hess Midstream LP (0001789832) (Issuer)
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Goldman resumed coverage of Hess Midstream Partners with a rating of Neutral and set a new price target of $36.00
Wells Fargo downgraded Hess Midstream Partners from Overweight to Equal Weight and set a new price target of $39.00
UBS downgraded Hess Midstream Partners from Buy to Neutral and set a new price target of $43.00
Wells Fargo upgraded Hess Midstream Partners from Equal Weight to Overweight and set a new price target of $47.00
Morgan Stanley resumed coverage of Hess Midstream Partners with a rating of Equal-Weight and set a new price target of $48.00
JP Morgan downgraded Hess Midstream Partners from Overweight to Neutral and set a new price target of $37.00
Goldman resumed coverage of Hess Midstream Partners with a rating of Buy and set a new price target of $32.00
UBS initiated coverage of Hess Midstream Partners with a rating of Buy and set a new price target of $37.00
Raymond James initiated coverage of Hess Midstream Partners with a rating of Outperform and set a new price target of $35.00
Citigroup initiated coverage of Hess Midstream Partners with a rating of Buy and set a new price target of $34.00
SD - Hess Midstream LP (0001789832) (Filer)
8-K - Hess Midstream LP (0001789832) (Filer)
144 - Hess Midstream LP (0001789832) (Subject)
144 - Hess Midstream LP (0001789832) (Subject)
SCHEDULE 13G/A - Hess Midstream LP (0001789832) (Subject)
SCHEDULE 13D/A - Hess Midstream LP (0001789832) (Subject)
SCHEDULE 13D/A - Hess Midstream LP (0001789832) (Subject)
8-K - Hess Midstream LP (0001789832) (Filer)
10-Q - Hess Midstream LP (0001789832) (Filer)
144 - Hess Midstream LP (0001789832) (Subject)
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Hess Midstream LP (NYSE:HESM) ("Hess Midstream") today provided updated financial and operational guidance for the remainder of 2025 based on updated expectations and for 2026 and 2027 based on an expected decrease in Bakken rig activity by Chevron from four to three drilling rigs commencing in the fourth quarter of 2025. Highlights Hess Midstream continues to expect long-term growth in gas throughput volumes through at least 2027 in the Bakken while oil throughput volumes are now expected to plateau in 2026 as a result of lower planned rig activity. Hess Midstream expects throughput volumes to generally stay above already-established minimum volume commitments. Hess Midstream no
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced an accretive $100 million repurchase that included both Class B units of its subsidiary, Hess Midstream Operations LP, from an affiliate of Chevron Corporation ("Chevron"), Hess Midstream's sponsor (the "Sponsor"), and Hess Midstream's Class A shares from the public. Hess Midstream announced the execution of a definitive agreement providing for the repurchase of approximately $30 million of Class B units by its subsidiary, Hess Midstream Operations LP, from the Sponsor. The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream's general partner, based on the
Second Quarter 2025 Highlights: Net income was $179.7 million. Net cash provided by operating activities was $276.9 million. Net income attributable to Hess Midstream LP was $90.3 million, or $0.74 basic earnings per Class A share, after deduction for noncontrolling interests. Adjusted EBITDA1 was $316.0 million and Adjusted Free Cash Flow1 was $193.8 million. Completed accretive $190.0 million repurchase of Class B units of Hess Midstream Operations LP and $10.0 million repurchase of Class A shares of Hess Midstream LP. Increased quarterly cash distribution to $0.7370 per Class A share for the second quarter of 2025, an increase of $0.0272 per Class A share for the second qu
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.7370 per Class A share for the quarter ended June 30, 2025, an increase of $0.0272 per Class A share as compared with the first quarter of 2025. This increase is supported by excess adjusted free cash flow after distributions following Hess Midstream's accretive $190 million unit repurchase and $10.0 million repurchase of Class A shares of Hess Midstream LP in May 2025 and, on an annualized basis, is significantly above Hess Midstream's targeted 5% growth in annual distributions per Class A share through 2027. "We continue to exe
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that following the completion of the merger between Hess Corporation ("Hess") and Chevron Corporation ("Chevron"), Hess Midstream's general partner has appointed new members to its Board of Directors (the "Board") and has appointed new executive officers. As a result of the merger, Chevron beneficially owns Hess' approximately 37.8% interest in Hess Midstream on a consolidated basis. Independent Directors Unchanged; Chevron Leadership Appointed to HESM Board Effective immediately, John B. Hess, Chairman and Chief Executive Officer, Gregory P. Hill, President and Chief Operating Officer of Hess Corporation, and John P. Riel
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that it will hold a conference call on Wednesday, July 30, 2025, at 12:00 p.m. Eastern Time to discuss its second quarter 2025 earnings release. To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only) on Hess Midstream's website at www.hessmidstream.com. About Hess Midstream Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-p
Hess Midstream LP (NYSE:HESM) today announced publication of its 2024 Sustainability Report as part of its commitment to transparency about environmental, social and governance plans and performance. The report is available on the Hess Midstream website. Leading sustainability reporting frameworks were used to develop the Hess Midstream Sustainability Report including the Energy Infrastructure Council and GPA Midstream Association Environment, Social and Governance Reporting Template; the Sustainability Accounting Standards Board standard for oil and gas – midstream; the Taskforce for Climate-Related Financial Disclosures; and the Global Reporting Initiative Standards. About Hess Midstr
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that Global Infrastructure Partners ("GIP"), a part of BlackRock, has completed a full exit of its position in Hess Midstream as the result of the closing of a registered underwritten public offering on May 30, 2025. Ownership of Hess Midstream on a consolidated basis is now approximately 62.2% for the public and 37.8% for Hess Corporation ("Hess"). "Today's announcement is a milestone in our public journey," said Jonathan Stein, Chief Financial Officer of Hess Midstream. "We are thankful for the prosperous partnership with GIP, which allowed us to build a leading midstream platform together, and we are excited to continue e
Hess Midstream LP (NYSE:HESM) ("HESM") today announced the pricing of the previously announced underwritten public offering of an aggregate 15,022,517 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners, a part of BlackRock (the "Selling Shareholder"), at a public offering price of $37.25 per Class A share. The gross proceeds from the sale of Class A shares by the Selling Shareholder are expected to be $559.59 million. HESM will not receive any proceeds from the sale of Class A shares in the offering. The offering is expected to close on May 30, 2025, subject to customary closing conditions. J.P. Morgan and Citigroup are acting
Hess Midstream LP (NYSE:HESM) ("HESM") today announced the commencement of an underwritten public offering of an aggregate of 15,022,517 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners, a part of BlackRock (the "Selling Shareholder"). HESM will not receive any proceeds from the sale of Class A shares in the offering. J.P. Morgan and Citigroup are acting as the joint bookrunning managers of the offering. The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectu
Live Leadership Updates
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that following the completion of the merger between Hess Corporation ("Hess") and Chevron Corporation ("Chevron"), Hess Midstream's general partner has appointed new members to its Board of Directors (the "Board") and has appointed new executive officers. As a result of the merger, Chevron beneficially owns Hess' approximately 37.8% interest in Hess Midstream on a consolidated basis. Independent Directors Unchanged; Chevron Leadership Appointed to HESM Board Effective immediately, John B. Hess, Chairman and Chief Executive Officer, Gregory P. Hill, President and Chief Operating Officer of Hess Corporation, and John P. Riel
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Hess Midstream LP (NYSE:HESM) ("Hess Midstream") today provided updated financial and operational guidance for the remainder of 2025 based on updated expectations and for 2026 and 2027 based on an expected decrease in Bakken rig activity by Chevron from four to three drilling rigs commencing in the fourth quarter of 2025. Highlights Hess Midstream continues to expect long-term growth in gas throughput volumes through at least 2027 in the Bakken while oil throughput volumes are now expected to plateau in 2026 as a result of lower planned rig activity. Hess Midstream expects throughput volumes to generally stay above already-established minimum volume commitments. Hess Midstream no
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced an accretive $100 million repurchase that included both Class B units of its subsidiary, Hess Midstream Operations LP, from an affiliate of Chevron Corporation ("Chevron"), Hess Midstream's sponsor (the "Sponsor"), and Hess Midstream's Class A shares from the public. Hess Midstream announced the execution of a definitive agreement providing for the repurchase of approximately $30 million of Class B units by its subsidiary, Hess Midstream Operations LP, from the Sponsor. The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream's general partner, based on the
Second Quarter 2025 Highlights: Net income was $179.7 million. Net cash provided by operating activities was $276.9 million. Net income attributable to Hess Midstream LP was $90.3 million, or $0.74 basic earnings per Class A share, after deduction for noncontrolling interests. Adjusted EBITDA1 was $316.0 million and Adjusted Free Cash Flow1 was $193.8 million. Completed accretive $190.0 million repurchase of Class B units of Hess Midstream Operations LP and $10.0 million repurchase of Class A shares of Hess Midstream LP. Increased quarterly cash distribution to $0.7370 per Class A share for the second quarter of 2025, an increase of $0.0272 per Class A share for the second qu
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.7370 per Class A share for the quarter ended June 30, 2025, an increase of $0.0272 per Class A share as compared with the first quarter of 2025. This increase is supported by excess adjusted free cash flow after distributions following Hess Midstream's accretive $190 million unit repurchase and $10.0 million repurchase of Class A shares of Hess Midstream LP in May 2025 and, on an annualized basis, is significantly above Hess Midstream's targeted 5% growth in annual distributions per Class A share through 2027. "We continue to exe
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that it will hold a conference call on Wednesday, July 30, 2025, at 12:00 p.m. Eastern Time to discuss its second quarter 2025 earnings release. To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only) on Hess Midstream's website at www.hessmidstream.com. About Hess Midstream Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-p
Hess Midstream LP (NYSE:HESM) today announced publication of its 2024 Sustainability Report as part of its commitment to transparency about environmental, social and governance plans and performance. The report is available on the Hess Midstream website. Leading sustainability reporting frameworks were used to develop the Hess Midstream Sustainability Report including the Energy Infrastructure Council and GPA Midstream Association Environment, Social and Governance Reporting Template; the Sustainability Accounting Standards Board standard for oil and gas – midstream; the Taskforce for Climate-Related Financial Disclosures; and the Global Reporting Initiative Standards. About Hess Midstr
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced an accretive $200 million repurchase that included both Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, a part of BlackRock, Hess Midstream's sponsors (the "Sponsors"), and Hess Midstream's Class A shares from the public. Hess Midstream announced the execution of a definitive agreement providing for the repurchase of approximately $190 million of Class B units by its subsidiary, Hess Midstream Operations LP, from the Sponsors. The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess
First Quarter 2025 Highlights: Net income was $161.4 million. Net cash provided by operating activities was $202.4 million. Net income attributable to Hess Midstream LP was $71.6 million, or $0.65 basic earnings per Class A share, after deduction for noncontrolling interests. Adjusted EBITDA1 was $292.3 million and Adjusted Free Cash Flow1 was $190.7 million. Increased quarterly cash distribution to $0.7098 per Class A share for the first quarter of 2025, an increase of $0.0086 per Class A share for the first quarter of 2025 compared with the fourth quarter of 2024. Completed accretive $100.0 million repurchase of Class B units of Hess Midstream Operations LP in January 2025. Th
Hess Midstream LP (NYSE:HESM) ("Hess Midstream"), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.7098 per Class A share for the quarter ended March 31, 2025, an increase of $0.0086 per Class A share as compared with the fourth quarter of 2024, consistent with Hess Midstream's targeted 5% growth in annual distributions per Class A share through 2027. "With today's announcement, we continue to execute on our differentiated financial strategy, prioritizing consistent and ongoing return of capital to our shareholders," said Jonathan Stein, Chief Financial Officer of Hess Midstream. "We expect to continue to have more than $1.25 b
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that it will hold a conference call on Wednesday, April 30, 2025, at 12:00 p.m. Eastern Time to discuss its first quarter 2025 earnings release. To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only) on Hess Midstream's website at www.hessmidstream.com. About Hess Midstream Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-part
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